The Labour Party’s 2023 presidential candidate, Peter Obi, has expressed concern that frequent power outages across Nigeria and the high cost of petroleum products could force many entrepreneurs out of business, driving more Nigerians into poverty.
Several northern states have been without power for days due to vandalism of the Shiroro-Mando transmission line. The Transmission Company of Nigeria (TCN) has stated that efforts are underway to restore power.
In a post on X (formerly Twitter) on Sunday, the former Anambra State governor remarked that the persistent power outages across the country “continue to be a matter of grave concern.”
“The negative impact of the continued power outage on businesses, especially small businesses, who depend primarily on public power supply to sustain their businesses as a means of livelihood, is unimaginable.
“This power crisis, when combined with the present high cost of petroleum products and a harsh operating environment, remains a lethal recipe for widespread business failure and increasing poverty in the country,” Obi said.
He said solving Nigeria’s power and energy crisis is not rocket science as many of Nigeria’s peer nations have demonstrated the possibility of sustainable power for their citizens.
“Our African neighbour, Egypt, for example, invested aggressively in their power sector, which resulted in the establishment of a sustainable power infrastructure by way of many power stations.
“Today, Egypt has revolutionized power and energy production in the country, providing sustainable power to millions of small businesses, which account for over 90% of active enterprises in the country and contribute to over 80 per cent of their GD,” he said.
Obi called on the government to ramp up efforts and provide immediate and long-term solutions to the challenge.