Abuja, Oct 10, 2023: The Institute of Chartered Accountants of Nigeria (ICAN) says it is willing to sign a Memorandum of Understanding (MoU) with the Ministry of Power to provide affordable power supply.
Mr Bolaji Tunji, Special Assistant on Media to the Minister, made this known in a statement in Abuja on Monday
Tunji said that the President of ICAN, Mr Innocent Okwuosa, made this known when the institute visited the Minister of Power, Mr Adebayo Adelabu in his office.
He said the ICAN team also came to inform the minister of its upcoming 53rd conference.
Okwuosa said that the numerous challenges facing the power sector over the years had hindered the ability to provide reliable and affordable electricity to citizens and businesses.
He said that addressing those challenges required a comprehensive and sustained effort from both the public and private sectors.
“ It is essential to create a conducive environment for investment and establish clear policies, with recognition and focus on the power sector as the driver of economic growth,” he said.
Okwuosa said that ICAN had a working group called “ICAN Technical Committee on Power Sector’’, adding that the committee was ready to partner with the ministry to provide reliable supply.
According to him, the objective of the committee is to support government in achieving the objective of affordable and clean energy as well as efficiency in the operation of the power sector in the country.
“One of the ways chartered accountants can support the ministry is through financial assessments of the financial viability of sustainable energy projects such as renewable energy investment or energy efficient technologies,” he said.
He also promised that the institute would support the ministry through capacity building for members and other stakeholders within the value chain.
“ It will also provide intervention that will support the ministry through proper appraisal of low interest loans, grant facilities to entities within the energy sector,” he said.
On his part, the Minister of Power, Mr Adelabu described the theme of the conference, Nigeria: Imperatives for inclusive development, as apt and timely.
The minister harped on the need for a comprehensive, national inclusive development for the country rather than developing in silos.
According to him, a national inclusive development is one that will benefit all segments of the society, especially those who are marginalised or disadvantaged.
“It involves policies and initiatives aimed at reducing income inequality, providing equal access to opportunities and improving the overall wellbeing of citizens.
This is “regardless of their socioeconomic background, gender, ethnicity or other factors.
He said that was what the country needed at this time – development that is multi-sectorial, multi-tribal, multi-class and multi-status,” he said.