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Risk management critical to power development



Executive Director, Engineering and Technical Services, Niger-Delta Power Holding Company (NDPHC), Ifeoluwa Oyedele, has said unless risk management procedures are applied to infrastructure development in power projects, sustainable development of the sector may remain elusive.

Speaking after being conferred as fellow of Risk Managers Society of Nigeria (RIMSON), in Abuja, Oyedele insisted that raising awareness on the need for risk management across sectors would enable Nigeria build a sustainable economy.

Attributing the fellowship to hard work and the need to work harder, Oyedele said: “The principles of managing risk are the same, and all we need to do is to just apply it to the power sector.

“It is not different in the power sector to what obtains in the oil industry, to what obtains in the insurance industry, what it entails is doing things the way it should be done, not cutting corners in any way.’’

He said it is important for individuals in all segments of the society to exhibit the right attitude in whatever capacity they have been called to serve.

“Looking into the future, thinking ahead, and knowing that whatever we do now must be able to stand the test of time. The underground train in England is more than 200 years; I guess that if a project like that was in Nigeria, by now we will not have been able to use it again.

“Because we will not have managed the risk of 200 years, these days when we construct public buildings or roads in two to three years they have outlived their purpose.

“So, we must insist on doing things the way it should be done by doing that, we avert all the risks that are involved in the power sector,” Oyedele said.

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