By Moses Patience Chat
The Center for the Promotion of Private Enterprise (CPPE) has advised the Federal Government to hasten the Presidential Power Initiative and reforms in order to improve electricity supply in the country.
The Chief Executive Officer (CEO) of CPPE, Mr Musa Yusuf, said this in a paper titled “Fuel Subsidy Removal: Ensuring Inclusive, Impactful and Sustainable Palliative Measures”, where he also asked that State Governments and private investors be supported to leverage the decentralization power supply and off grid power solutions.
The paper which analyzed the impact of petrol subsidy withdrawal also pointed that quick wins in the power improvement strategy should be implemented immediately to reduce the demand for petroleum products for purposes of electricity generation by households and businesses.
Yusuf also advised the Government to urgently consider putting an end to the pricing of gas in dollars for domestic use, especially for manufacturers.
According to him, necessary and urgent steps must be taken by government to put an end to this dollarization framework to ensure a moderation in energy cost for the manufacturing sector, adding that Government should take urgent steps to reduce the cost of Liquified Petroleum Gas, (LPG) to households.
He expressed happiness with the recent reduction in the price of LPG but advised that the price reduction trajectory be sustained to ease pressure on households and prevent deforestation.
The CPPE Boss further called on the Federal Government to abolish all forms of tax and import duty placed on renewable energy equipment to boost the adoption of renewable energy by households and SMEs.
According to him, the reduction in prices should cover important equipments like solar panels, inverters, batteries and other renewable energy equipment as this would reduce citizens reliance on the national electricity grid.