Time to resolve the power sector crisis - Punch Newspapers

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Time to resolve the power sector crisis

THE decades-old crisis in Nigeria’s power sector has recently taken another turn for the worse with daily power supply averaging an embarrassing 1,393 megawatts in March. Disappointingly, this is happening seven years after the President, Major General Muhammadu Buhari , took office pledging a turnaround. Unless he takes radical action to truly turn things around, he will leave another legacy of failure in the power sector, among other letdowns.

The United States Agency for International Development said, “The Nigerian power sector experiences many broad challenges related to electricity policy enforcement, regulatory uncertainty, gas supply, transmission system constraints, and major power sector planning shortfalls that have kept the sector from reaching commercial viability.”

Some 90 million Nigerians lacked access to electricity by 2019, the world’s worst; below Congo DR’s 70 million, and Ethiopia’s 58 million, the World Bank added. The International Monetary Fund says Nigerian businesses bleed by about $29 billion annually due to power shortages.

 

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Asiwaju is another individual that can liberalise this sector. Overcentralisation is one of the problems there. He has trued qith enron in lagos.

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