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Past Governments Responsible For Poor Electricity – Osinbajo

Posted: Jun 14, 2015 at 12:02 am   /   by   /   comments (0)

Laide Raheem, Abeokuta

The Vice-President of Nigeria, Professor Yemi Osinbajo has disclosed that large-scale corrupt practices coupled with dubious awards of contract in Nigeria’s power sector by past administrations, especially as regards contract on power transmission lines are responsible for inadequate and epileptic power supply in the country.

Yemi Osinbajo

Yemi Osinbajo

He added that despite several billions of dollars investment in power generation and distribution over the years by government, businesses and Nigerians still suffer greatly on account of lack of power supply.

Osinbajo then noted that there should be total overhaul in the sector in terms of generation and distribution if all efforts on power production must be achieved.

The Vice-President stated this while delivering the 10th Anniversary Lecture of Crescent University, Abeokuta tagged “The Nigerian Economy and the Future” yesterday.

According to him, records showed that series of contracts were awarded in the power sector for several years which are still ongoing without tangible improvement.

Professor Osinbajo further remarked that “though Nigeria needs more than 10,000MW to stabilise economic growth, the present capacity of power transmission lines cannot distribute more than 5,000 MW since the improvement works on transmission lines have been stagnant over years and should be improved upon if Nigeria must achieve tangible output from the sector”.

“Unfaithful to awards of contract and execution of contracts being awarded are the major challenges. Several contracts in that regards have been awarded several years back, but have not been completed.

“What is being produced now is less than 3,000 MW. Our transmission grid today can only transmit 5,000 MW and we need to improve on transmission capacity to transmit enough power needed to stabilise economy. That is why the private investors have to increase capital investment in power sector. He added.

The vice-president, however, hinted that “some tough decisions would have to be taken to put the country back on the path of genuine growth and development in line with the All Progressives Party programmes”, adding that  President Muhammadu Buhari-led APC would encourage huge investment in Nigeria’s economy to make its competitive globally.