Experts in the energy and real estate sectors have advised President Muhammadu Buhari’s regime to localise electricity distribution for improved supply and grow the sector.

They made the call at the closing of the third Lagos Real Estate Market Place Conference And Exhibition in Lagos.

Eyo Ekpo, Extradite Consulting CEO, said the distribution of electricity was a local business and should be treated as such to allow the retail electricity distribution business to thrive.

Mr Ekpo said electricity distribution should not be domiciled with the federal government but left to state governments.

“It is an aberration for nine electricity distribution companies only to cover the 35 states in the Federation. No country in the world does so. We live in localities. Hence electricity must be localised to foster the desired improvement and growth we desire in the sector,” he explained.

Habeeb Alebiosu, Viathan Engineering Ltd CEO, said that despite the activities of the regulator and distribution companies, not much had changed in the energy sector.

Mr Alebiosu stated that regulation in the energy sector should be consumer biased to increase the supply and distribution of electricity.

Similarly, Chuks Umezulora, Auxano Solar’s managing director, demanded the domestication of the supply chain in the nation’s renewable energy.

Mr Umezulora said governments must have a policy that encourages energy-efficient appliances, while practitioners must consider sustainability in building designs.

Andre Geday, ELALAN Construction Company’s cofounder and MD, said it was no longer sustainable for his company to spend about N50 million monthly on diesel due to the poor performance of electricity distribution companies.

Mr Geday appealed to the federal government to stabilise the sector to avoid the ripple effects of the expenses incurred by companies and industries on the end users of goods and services.

Doseke Akporiaye, Nigeria Oolu Solar’s MD, the federal government must work hard to reduce the importation cost as it hinders people from acquiring energy devices and solutions.

Owen Inyang, CMO and cofounder of Juststandout, said before structures were built, energy should be considered at the planning stage for self-sustainability and promoting a green environment.

Muyiwa Akinyemi, UBA Group deputy managing director, said practitioners in the real estate sector needed access to finance. He charged banks and financial institutions to focus on environmental, social and gGovernance and ensure risk sharing in every loan request before granting them. 

(NAN)