Stakeholders in the power sector said cost-reflective billing is the most sustainable means to increase the performance of the power sector.

Speaking at a media parley to announce the 10th Nigeria Energy Exhibition and Conference, energy expert, Tetracore Energy Limited, Damilare Olayiwola, said cost -reflective tariff in the power sector was the way to go if there would be reliable access to electricity.

He stressed that electrification would play a significant role in achieving higher renewable energy, noting that technology has a role to play in energy transition.

Exhibition Director of Nigeria Energy Conference, Ade Yusuf, pointed out that Nigeria has abundant natural resources that could potentially increase the country’s power performance rate and achieve its energy goals.

He said the country has a diverse range of natural resources that could be harnessed to enhance the country’s power capacity.

Yusuf stressed that the conference, themed, ‘Unlocking new value with reforms, investments and technology,’ would bring together government, private sector and investors to find solutions to the challenges facing Nigeria and West Africa’s electricity sector.

“Nigeria and West Africa’s Energy sector are currently undergoing a significant transformation, with a strong emphasis on addressing the critical challenge of energy access. Nigeria has abundant natural resources making it capable of improving the country’s electrification rate and achieving its energy goals with the right investment and policies.

“Over the years, the Nigeria Energy Exhibition and Conference has gathered local and international stakeholders to collaborate across the value chain and proffer solutions to the region’s energy challenges. With our 10th anniversary, this 2023 edition will build on past success and offer special high-level seminars targeted at proffering viable mechanisms to solve the challenges in the Energy sector,” he said.

He stressed that the conference would cover key topics on the power sector decentralisation, emphasising the new legislations and framework in the country, the role of Natural gas as a transition fuel in achieving a net-zero economy, funding opportunities, leadership panel, emission trading and leveraging the power of digital technology to deliver value to customers.