PSRP Objectives
1
Improve power supply reliability to meet growing demand
The PSRP prioritizes operational and technical interventions to improve the reliability of power supply for Nigerians. The programme includes a set of measures that will ensure 4500MW of electricity is supplied to the distribution grid to ensure grid stability and reduce system outages. The programme also has specific measures for the implementation of Performance Improvement Plans (PIPs) put together by each distribution company to improve its operational performance.
1
Improve power supply reliability to meet growing demand
The PSRP prioritizes operational and technical interventions to improve the reliability of power supply for Nigerians. The programme includes a set of measures that will ensure 4500MW of electricity is supplied to the distribution grid to ensure grid stability and reduce system outages. The programme also has specific measures for the implementation of Performance Improvement Plans (PIPs) put together by each distribution company to improve its operational performance.
Restore the sector’s financial viability
The financial sustainability of the sector is critical to improve service delivery and ensure that scarce public funds are used for social programmes such as education and health instead of keeping the power sector working. The Federal Government budget will include provisions to fully fund new tariff shortfalls and clear historic arrears with sustainable sources of funds with a clear timeline for removing these shortfalls.
2
2
Restore the sector’s financial viability
The financial sustainability of the sector is critical to improve service delivery and ensure that scarce public funds are used for social programmes such as education and health instead of keeping the power sector working. The Federal Government budget will include provisions to fully fund new tariff shortfalls and clear historic arrears with sustainable sources of funds with a clear timeline for removing these shortfalls.
3
Strengthen the sector’s institutional framework and increase transparency
Strengthening sector accountability and transparency are the foundations for the successful implementation of the PSRP and its sustainability. Sector transparency will be improved by establishing data-driven processes for decision-making across the sector’s value chain – and ensuring that Nigerians are aware of the decisions made. Better accountability will translate to increased operational efficiency, including the reduction of technical, commercial and collection losses.
3
Strengthen the sector’s institutional framework and increase transparency
Strengthening sector accountability and transparency are the foundations for the successful implementation of the PSRP and its sustainability. Sector transparency will be improved by establishing data-driven processes for decision-making across the sector’s value chain – and ensuring that Nigerians are aware of the decisions made. Better accountability will translate to increased operational efficiency, including the reduction of technical, commercial and collection losses.
Implement clear policies that promote and encourage investors’ confidence in the power sector
The programme calls for putting in place the right fiscal and monetary policies clarifying the terms and conditions of government support to encourage private sector investments. The programme involves NERC’s publication of key operational and financial performance data of the sector on a quarterly basis, including data on electricity supply hours. These measures will improve the credibility of the sector, as well as the investment environment.
4
4
Implement clear policies that promote and encourage investors’ confidence in the power sector
The programme calls for putting in place the right fiscal and monetary policies clarifying the terms and conditions of government support to encourage private sector investments. The programme involves NERC’s publication of key operational and financial performance data of the sector on a quarterly basis, including data on electricity supply hours. These measures will improve the credibility of the sector, as well as the investment environment.
5
Reinforce a contract-based electricity market
The programme aims to reset the Nigerian Electricity Sector by improving the sector’s financial sustainability, operational efficiency, and regulatory monitoring and enforcement to ensure that contracts are implemented and honored in the sector.
5
Reinforce a contract-based electricity market
The programme aims to reset the Nigerian Electricity Sector by improving the sector’s financial sustainability, operational efficiency, and regulatory monitoring and enforcement to ensure that contracts are implemented and honored in the sector.
