“ATIKU ADVOCATES FOR UNLOCKING NIGERIA’S POWER SECTOR THROUGH INVESTMENT”
In a recent statement, former Vice President Atiku Abubakar emphasized the imperative for Nigeria to liberalize the power sector, allowing increased investment. Atiku argued that opening up the power sector would stimulate economic growth, enhance efficiency, and address the persistent challenges facing the nation’s power supply.
Atiku noted that the current centralized control of the power sector limits competition and hampers innovation, leading to inefficiencies and inadequate service delivery. He urged the Nigerian government to adopt policies that encourage private sector participation, citing successful models from other countries that have embraced liberalization.
The former Vice President highlighted the positive impact of private investment in the telecommunication sector, noting how it transformed the industry and improved service quality. He believes that a similar approach in the power sector would attract both local and foreign investors, fostering competition, innovation, and increased capacity.
Atiku stressed that a well-functioning power sector is crucial for industrialization, job creation, and overall economic development. He urged the government to prioritize the implementation of policies that promote transparency, fair competition, and private sector involvement to unlock the potential of the power sector.
In conclusion, Atiku asserted that embracing a market-driven approach in the power sector would lead to improved electricity generation, distribution, and affordability, ultimately benefiting the Nigerian people and the economy as a whole.
“Atiku, in a post on his X handle (formerly Twitter) on Thursday, mentioned that despite the prolonged duration for Aba Power Limited, a subsidiary of Geometric Power, to materialize, the ‘much-needed electricity to unleash the full potentials of Aba, the industrial and commercial nerve centre of Abia, will surely make up for the long wait.’
The former Vice President expressed, ‘This significant milestone is important as it improves people’s access to electricity – and thereby improves the overall quality of life of the people of Abia. This is a privilege the people of Abia must be thankful for. As we all know, more than 40% of Nigeria’s 220 million people do not have access to electricity.
Baba Martins; From the News Source: DailyTrust
