NESI @10: Sahara Group’s GMD, Kola Adesina Charts Pathway to Power Sector Recovery

Emmanuel Addeh in Abuja

The Group Managing Director of Sahara Group, with interests in Egbin Power and Ikeja Distribution Company (Disco), Mr Kola Adesina, yesterday listed several actions that must be taken by stakeholders for Nigeria’s beleaguered power sector to begin its journey to full recovery.

The businessman whose company also has stakes in the upstream and downstream petroleum industry, spoke on the last day of the Nigerian Electricity Supply Industry (NESI) roundtable in Abuja to mark the 10th anniversary of the partial privatisation of the power sector.

 According to Adesina, one thing that must be done is that if the government must subsidise, this should be directed to the production of power.

He further stressed that there must be alignment of the entire value chain from gas to customer , while pricing must be segmented and must reflect market realities as well as align with the customer experience.

He also suggested that electricity consumers in Nigeria must be turned to paying customers, advising that technology must be introduced to deliver optimum service.

In adding, he stated that government institutions and agencies must pay for electricity supply while access to forex must be given to the power sector.

Besides, Adesina noted that a consumer Assistance Fund must be financed in line with market realities, the same way clustering of customers must be done alone service lines. He also posited that policies and regulations must be stable and predictable.

“ Economies/industrial and commercial entities must be prioritised in terms of supply. Legacy debts must be cleared. Investor confidence must be assured. Renewable energy must be deployed to all categories of customers, particularly the underserved and unserved markets,” he advised.

Speaking on the achievements of Ikeja Disco, he stated that in 2019, it made history by being the first to launch a bilateral project between the Disco and customers.

He added that this showcased the company’s collaborative spirit and dedication to achieving excellence through teamwork.

“ This service aimed to provide improved electricity to our customers which was made possible by investment in infrastructure upgrade, improved working relationship with the Nigerian Electricity Regulatory Commission (NERC), Transmission Company of Nigeria (TCN), Bureau of Public Enterprises (BPE) and a dedicated 24-hour maintenance service.

“This emphasised our commitment to providing seamless service and setting new standards in the industry. The same year witnessed the launch of the e-billing platform, making us pioneers in embracing digital solutions for the convenience of our customers.

“This is a testament to our adaptability, innovation, and commitment to staying at the forefront of technological advancements,” he added.

Adesina explained that the company also achieved a significant milestone by becoming the first Disco to attain all three certifications: Quality Management System- ISO 9001:2015, Occupational Health and Safety Management System- ISO 45001:2018, and Environmental Management System- ISO 14001:2015.

 These achievements, he said, reflect the dedication and hard work of NESI, noting that in 2023, the company celebrated a remarkable reduction in collection and technical losses from 44 per cent to an impressive 17.8 per cent.

According to him, this showcased the company’s collective efforts in operational efficiency and sustainable energy practices.

“Our commitment to customer satisfaction is evident in our initiative to adopt automated payment channels, making transactions smoother and more efficient for our valued customers. We are not just providing a service; we are creating experiences that resonate with our customers.

“Recognising the importance of transparency and accountability, we successfully metered over 830,292 customers, giving them control over their energy consumption and fostering a sense of empowerment.

“As we celebrate a decade of achievements, I want to take a moment to express my deepest gratitude to every one of you—our dedicated and hardworking team members. Your commitment, passion, and resilience have been the driving force behind our success.

“As we look back on our journey, let us also look forward to the exciting possibilities that the future holds. Together, as one cohesive team, let us continue to illuminate lives, empower communities, and drive Ikeja Electric Plc to even greater heights while bringing energy to life responsibly,” he added.