The Guardian
Email YouTube Facebook Instagram Twitter WhatsApp

Group seeks new policy, foreign investors in power sector


GGI President, Festus Uzoma Mbisiogu

The Good Governance Initiative (GGI), has called for a new National Energy Policy to permanently address the problem of epileptic power supply in Nigeria.GGI President, Festus Uzoma Mbisiogu, decried the perennial power shortage situation, describing it as the bane of high unemployment and poverty in Nigeria.

Mbisiogu said until a new policy is put in place, the right investors would continue to elude the power sector.He added that it was high time Nigerians started holding their presidential aspirants to task, especially to guarantee 24-hour power supply within a four-year tenure or forfeit re-election for second term.

“As usual, politicians with sweet tongues are selling their manifestoes, principles and ideologies to us without any corresponding assurance on sustainable power. And if there is anytime for Nigerians to free themselves from the hands of deceitful politicians, it is now,” Mbisiogu said.

The group commended the government for the implementation of its renewable energy policy with the connection of about 450 shops at the popular Iponri market in Lagos with solar power.

They, however, reiterated the need to define the roles required for petroleum, gas, coal, hydroelectricity, solar power, nuclear power, any other sources as well as rules of engagement for indigenous participation and for foreign investors.GGI also decried the failure of the generating and distribution companies, an erstwhile commendable government’s initiative to improve the sector.

In the alternative, the group came up with another solution of inviting Chinese or capable investors from developed countries to handle the power situation in the country. It premised this on the fact that Nigeria is the largest economy in West Africa; endowed with large oil, gas, hydro and solar resources, and needs nothing less than 180,000 megawatts to have adequate and stable power supply.

Receive News Alerts on Whatsapp: +2348136370421

No comments yet