Prof. Christopher Imumolen, a presidential candidate for the Accord Party, has lamented Nigeria’s inadequate power supply and provided strategies for the industry’s growth.
The 38-year-old presidential candidate claimed that both domestic and foreign players must have access to the power industry in order to attain the necessary level of electricity supply.
According to a statement provided to journalists on Thursday, Imumolen made these statements during a media discussion in Abuja.
He pointed out that the industry is currently subject to a strict regulatory environment, but that this regime is
He stated that additional companies are required in the generation, transmission, and distribution sectors, and that the Nigerian Electricity Regulation Commission must assure deregulation.
He referred to it as sad that after independence, Nigeria has only been able to offer power to 50% of the country.
Imumolen criticized Nigeria’s low generation capacity, which remains at a precarious 6,000 megawatts despite hundreds of billions of naira in investments by succeeding governments, and he questioned what happened to the almost $5 billion in tariff revenue that is generated annually.
He criticized the widespread corruption in Nigeria’s power sector and other areas, stating that it is imperative to strategically eradicate corruption if Nigeria is to avoid the appallingly low supply to households and businesses, which is currently at an average of 2 hours a day.
The presidential candidate further stated that industry experts, not political allies or clients, should handle the business of energy generation, transmission, and distribution.
“For a remarkable impact and success to be recorded in the power sector, it must be handled with govt sincerity as a vital sector tightly hinged to national development.
“With adequate power supply, a palpable economic vibrancy will be injected into the economy and Large, Small and Medium Enterprises will boom,” the statement quoted him as saying.
Imumolen emphasized the urgent need for a friendlier investment environment in the power sector that will be appealing to businesses who will make Nigeria’s power stable.
He called Nigeria’s failure to supply its inhabitants with adequate power since 1960 “disgraceful,” asserting that the country can only achieve total productivity, prosperity, and progress when the power sector is thriving.
