Gains of nuclear power to Nigerians, by firm’s chief
The Chief Executive Officer, Rosatom Central and Southern Africa, Dmitry Shornikov, has said that access to stable and affordable electricity happens to be one of the biggest hurdles when it comes to the envisioned industrial revolution and sustainable economic growth in Nigeria.
A statement by Rosatom yesterday quoted him as saying this at the recently concluded15th Future Energy Nigeria Conference & Expo in Lagos.Citing the World Bank Enterprise Survey, he said electricity is the number two overall business obstacle and number one business obstacle for over half of large firms in Nigeria.
The survey showed that 70 per cent of large firms on the average experience 44 electrical outages per month for on the average 11 hours,which results in losing a quarter of annual revenue. Another World Bank study showed that outages reduce direct exports of African firms by six to 12 per cent.
“Shortage of sustainable and affordable energy sources make it difficult for African nations like Nigeria to implement its strategic industrialisation goals, this against a background of growing urbanisation as well as demands for employment and modern infrastructure. The importance of the industrial sector in a country’s economic development cannot be over-emphasised,” explained Shornikov.
A recent analysis conducted by the Nuclear Energy Institute (NEI) found that nuclear plants create some of the largest economic benefits when compared to all other generating sources.
Advantages gained from the implementation of NPP projects include local investments aimed at maintaining the well-being of the region and developing science, technologies, medicine and service sector. In a long run, the continuous development of these sectors will transform the country into a major economic force on the continent and on the global market.
“Within the past resent years Russia and Nigeria signed agreements on cooperation in the design, construction, operation and decommissioning of the Nuclear Power Plant and the Multipurpose Research Reactor Complex (MRRC) on the territory of Federal Republic of Nigeria,” outlined Shornikov.