By NOEL ONOJA

The Federal Government has empowered the Nigerian Bulk Electricity Trader with the sum onebillion Dollars, $1 billion, which has been approved in form of bond, to enable it purchase electricity from the generating companies.

Government did not, however, explain why it needed to bail out the bulk trader, but the announcement came on the heels of government’s disclosure that it is on the verge of approving the second phase of the Electric Power Sector Road Map, to reaffirm its resolve that there is no going back on power privatization.

The Minister of Power, Prof. Chinedu Nebo, who disclosed this last week in Abuja, said, the Road Map II became necessary in order to empower and take care of gaps that have been identified, and would soon approve, Road Map II.

Speaking in his office when he met with a United States Agency for International Development, USAID delegation, Nebo said, “We must hit the ground running, we do appreciate the enormous work you have done in the past, especially in the area of capacity building, but we need more help now even in the area of strengthening of institutions that will implement our plan. We are calling for more investments; we want genuine investors to take advantage of the revolution that is about to happen in the sector.”

Describing the new map as phenomenal, the minister said it would surpass what happened in the telecommunications sector because power is crucial to our everyday living, particularly in the rural areas, which have been denied of power for years.

“We need to develop the critical mass of experts in all areas of generation, transmission and distribution,” he said, adding that the sector suffers from an ageing workforce, a problem that would require assistance from USAID.

The Minister of State, HajiaZainab Ibrahim Kuchi, who was also present, told the delegation that the recent inauguration of a board for the Transmission Company of Nigeria (TCN) affirms Mr. President’s commitment to resolving the Manitoba issues.