Experts in the energy and real estate sectors on Wednesday charged the Federal Government to localize electricity distribution in the country to improve supply and grow the sector.
They made the call at the closing of the 3rd Lagos Real Estate Market Place Conference And Exhibition in Lagos tagged: “A Town Hall Meeting On The Lagos Real Estate Emerging Markets – Mitigating The Potential Risks.”
Mr. Eyo Ekpo, Chief Executive Officer, of Extradite Consulting, said distribution of electricity was a local business and should be treated as such to allow the retail electricity distribution business to thrive.
Ekpo said the distribution of electricity should not be domiciled with the Federal Government but left to the state governments to handle.
“It is an aberration for nine electricity distribution companies only to cover the 35 states in the Federation. No country in the world does so.
“We live in localities, hence electricity must be localized to foster the desired improvement and growth we desire in the sector,” he said.
Mr. Habeeb Alebiosu, Chief Executive Officer, of Viathan Engineering Ltd. said in spite of the activities of the regulator and distribution companies, not much had changed in the energy sector.
Alebiosu stated that regulation in the energy sector should be consumer biased to increase the supply and distribution of electricity.
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Similarly, Mr. Chuks Umezulora, Managing Director, Auxano Solar, demanded the domestication of the supply chain in the nation’s renewable energy.
Umezulora said governments must put up a policy that encouraged energy-efficient appliances, while practitioners must think about sustainability in building designs.
Mr. Andre Geday, Co-Founder/Managing Director, ELALAN Construction Company, said it was no longer sustainable for his company to spend about N50 million monthly on diesel due to the poor performance of electricity distribution companies.
Geday appealed to the Federal Government to stabilize the sector to avoid the ripple effects of the expenses incurred by companies and industries on the end users of goods and services.
For Ms. Doseke Akporiaye, Managing Director, Nigeria Oolu Solar, the Federal government must work hard to reduce the cost of importation as it hindered people from acquiring energy devices and solutions.
Ms. Owen Inyang, CMO/Co-founder, of Juststandout, said before structures were built, energy should be inculcated at the planning stage for self-sustainability and promotion of a green environment.
Mr. Muyiwa Akinyemi, Deputy Managing Director, of UBA Group, also said practitioners in the real estate sector needed access to finance.
He charged banks and financial institutions to focus on Environmental, Social, and Governance and ensure risk sharing in every loan request before granting them.
