Adelabu Urges ICRC to Vet Financial, Technical Capabilities of Investors in Power Sector

*Says some concessionaires lack capacity

Emmanuel Addeh in Abuja

The Minister of Power, Chief Adebayo Adelabu, has charged the Infrastructure Concession Regulatory Commission (ICRC) to show more interest in the financial and technical capabilities of intending investors before government assets are entrusted to them.
The minister also decried the consistent vandalism of  power infrastructure by bandits and terrorists across the country. He noted that some of those acts were deliberate sabotage against the government.
The minister spoke when the management of ICRC visited him at the headquarters of the ministry in Abuja, a statement by his spokesman, Bolaji Tunji, said yesterday.
According to Adelabu, part of the challenges that the power sector is facing today could be attributed to how some of its facilities and infrastructure were acquired by the concessionaires, adding that some of the investors lacked the necessary financial and technical capabilities.
“We must start doing things right in this country. We must stop blaming the president for everything. We must be president at our various desks. If there are agreements on concessions, let us follow such agreements. I want you to look at this and see how we can do it right.
“We want your cooperation and collaboration in getting the power sector to the right place. I can tell you that what we have been able to achieve in the past one year in office has been due to the resilience, dedication and passion of all of us in the power sector and we are determined and ready to actualise the mandate of President Bola Tinubu to make power available to Nigerians. He promised them that and we will surely achieve it”, the minister said.
The Director General of The ICRC, Dr. Jobson Ewalefoh, assured the minister that the agency was ready to partner with the ministry to ensure that the vision and mandate  Tinubu to make power available to Nigerians is achieved.
“Hon. Minister, let me commend you for what you have been able to achieve within the limited resources and time available to you in the past one year. From your analysis of the sector and improvement witnessed so far, we are more than convinced that you will deliver Mr President’s mandate for the power sector.
“Nigerians are looking towards you to perform magic in this sector but no magic can be performed. And we must be realistic that no magic can be performed. However, I want to assure you that we have listened to you and we are ready to collaborate with you on how we can deal with it.
“We understand that the investment in power is very huge but the potential there is also high. We are ready to partner  and work with you to achieve the desire of Mr. President to deliver on his mandate”, the director  general assured.