Port Harcourt chamber advocates PPP to boost investment in power sector

Following the frequent collapse of the national power grid, the Port Harcourt Chamber of Commerce, Industry, Mines and Agriculture (PHCCIMA) has advocated a Public-Private-Partnership (PPP) to woo investments in various options of power supply in the country.

PHCCIMA highlighted such areas as Modular Power Plants as a means of providing an adequate, affordable, and sustainable power supply, saying it will solve the power problem in the state and the country as a whole.

The business community made the call at the weekend in Port Harcourt during a press briefing announcing a proposed summit tagged 2022 Power-To-Power Summit with the theme, “Exploiting Business Opportunities In The Power Industry,” scheduled to hold in August 2022.

According to its President, Mike Elechi, the summit was necessitated by the challenges facing the power sector, which he described as inadequate power generation capacity and distribution, ineffective legislation, poor collection rates, higher diesel price, and inadequate transmission and distribution infrastructure.

He said: “As a result of the inadequate power supply, majority of households and businesses in the state rely on expensive self-generated electricity.

“As a result, Nigerians have resorted to powering themselves at various levels, some are using kerosene, lanterns, and candlesticks, with a majority in darkness.

“This year’s strategic agenda of the power event featuring high-impact plenary presentations, cutting-edge discussions, one-on-one meetings and convivial networking sessions are aimed at proffering solutions to these challenges and also accentuate the state government’s commitment to collaborating with the private sector to tackle the state’s power problems with the view of providing adequate power supply in realising the vigorously pursued state urban renewal programme, light for all citizens project and promoting higher productivity in the state.”

Elechi further stressed that the summit would help to educate, dialogue and exchange ideas on energy efficiency, innovation and technology, renewable energy and other emerging issues affecting energy consumers, saying; “as the leader of the Organised Private Sector(OPS), we advocate for Public-Private-Partnership (PPP) to woo investments into various options of power supply, including the introduction of Modular Power Plants as a means of providing adequate, affordable and sustainable power supply, thereby solving the power problem in the state, which is the essence of the summit.”