The Transmission Company of Nigeria (TCN), has blamed the importation of materials necessary to build power infrastructures, among other issues, as the bane of development of the sector despite its privatization.
Speaking at the maiden Abuja Electric Roundtable organized by the Abuja Chamber of Commerce and Industry (ACCI) on Wednesday in Abuja, the Acting Managing Director /Chief Executive Officer of TCN, Engr. Sule Ahmed Abdulaziz, stated that with cables, transformers and other products imported, their wavering prices affect the electricity tariff invariably affecting the level of development in the sector.
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“No item used in the power sector is produced in Nigeria, everything in the power sector is wholly and fully imported, therefore, whatever is happening in the exchange rate in naira is affecting the power sector.”
He added that TCN is also faced with the same issue since the only way it makes its revenue is from the discos. “So TCN cannot maintain its assets or improve it.”
President of ACCI, Dr Al-Mujtaba Abubakar, said the event was organized to consolidate the privatization exercise to address problems and hiccups within the system.
While calling for efficient regulatory actions to ensure all stakeholders play their part across the value chain, he noted that the reluctance of regulators to enforce established regulations is creating distortions within the system.