The advice came from two firms, Accenture Capital Project Services and Intergraph, during their presentations at a seminar organised for stakeholders in the utility companies on ‘Challenges in Asset Takeover and Performance Optimisation’, in Lagos on Wednesday.
The Managing Director, Resources, Accenture Capital Project Services, Mr. James Arnott, urged the new owners of the power firms to initiate strategies that would guarantee profit and integrity.
He said, “What is interesting at the moment is the transformation the Nigerian power sector is undergoing. It is a radical transformation and with a number of new entrants, which are important to the distribution and generation of power.
“For those involved in generation of power, the challenge is to understand the integrity of the assets they have and to put in place a strategy that would effectively allow them to operate the assets as well as meet up with the demand and regulatory requirements through data collection.
“On the distribution aspect, the challenges include how to manage subscription and maintain integrity with the customers. They should also strive to stabilise a prepaid payment system that will guarantee confidence.”
Arnott challenged the utility companies at all levels to build confidence in the users, urging them to ensure a radical change in the power sector.
He said, “Both generation and distribution must effectively look at how they can manage and satisfy customers. Maintenance is also important and facilitating maintenance is very vital for sustainability.
“For the utility companies that invested in the sector, I think the investment they have made is capable of yielding long-term profit and they also need to put in place funds and a good sustainable strategy.”
Mrs. Abayomi Olarinoye of Intergraph said, “Part of the advice is that they need to validate data. Whether it is the customers’ data or asset data; they need to validate data for them to work effectively. If everyone involved works actively, we will have improved power supply soon.”
She said the seminar was organised to enlighten new owners of PHCN assets on service delivery and profit maximisation.
“We came together to organise the event for specific utility owners, who have just taken over some assets. We discuss with them about the assets they just got. Also, we offered suggestions on how they can tackle some of the challenges they may face and how they can maximise profit,” she said.