Omolabake Fasogbon
The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) has described the newly signed Electricity Act by the federal government as a step in the right direction that will engender investment and growth for mutual benefits.
The institute further urged the government to consider transferring critical sectors to the concurrent list such that states and local governments can be empowered to perform oversight roles on key projects.
President and Chairman of Council of ICSAN, Taiwo Owokalade, during a press conference in Lagos, recently, stated that empowering the states on key sectors will stimulate economy activities, break the monopoly of nefarious investors, improve service delivery and ultimately, boost the socio-economic, growth and development of the country.
Commending the new electricity act, he stressed that it will drive more private sector involvement in electricity generation, transmission and distribution while fostering healthy competition.
Owokalade, who also commended government’s boldness on subsidy removal and forex unification, urged government to be consistent and make its policy clear enough to guide and attract private investors.
He said, “The boldness of government to remove subsidy is commended, though we know the initiatives come with huge consequences because of the heavy dependence of every Nigerian household on fuel.
“We look forward to seeing the real economic template of the government that the private sector can leverage on which would also encourage international investment.”
Noting that there are no perfect policies, the ICSAN boss advised government to continuously engage stakeholders for improvements and adjustments that align with unfolding realities.
He pledged the institute’s continuous support to the present administration through constant engagement, partnership and advocacy documents that will aid implementation of government’s policy.
