Abstract
In order to have stable and improve efficiency in power supply, there is need to analyse and understand the complex interrelated factors affecting the efficiency and stability of power supply. The factors that affect the efficacy and stability of power supply in any developing country/region could be classified as follows: government policy; economy factor; natural factor; society/community factor; effective energy management; skilled personnel; efficient technology and security factor. All these factors mentioned above have direct or indirect influence on the stability and efficiency of power supply. Various numbers of complicating factors that can prevent restructuring of energy sector to create electricity market that can improve efficiency of power supply in Nigeria are analysed. Suggestions of steps or actions that should be taken into consideration before proposing solutions to some of the problems of power sector are also highlighted in this paper.
Highlights
Stable and efficient power supply in any nation is the key to economic growth in that nation
Nigeria is facing enormous technical, management and economic problems in energy sector that calls for an urgent special approach
Fiscal policy refers to government policy that attempts to influence the direction of the economy through changes in government spending of taxes
Summary
Stable and efficient power supply in any nation is the key to economic growth in that nation. Nigeria is facing enormous technical, management and economic problems in energy sector that calls for an urgent special approach. In order to find engineering/management solutions to power system problems, it is inevitable to carry out technical and management analysis of interrelated factors that have great impact on the smooth operation of the energy sector as a whole. It is important to note that the problems affecting energy sector in developing countries differ from the problems that influence the same energy sector in developed countries. In view of these differences, it will be difficult to achieve economic efficiency in developing countries, following the same pattern of restructuring and deregulation of energy sector in developed countries
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