Coal, oil, gas and hydro power are abundant in Nigeria
to which Nigeria owns the world’s ninth largest
gas reserves; much of it is flared off or left underground. Nigerian government
is duty bound to provide basin social amenities inclusive of electricity. The
importance of electricity to Nigerians cannot be overemphasized as 95% of
economic activities are done with electricity and Electric power supply is the most important
commodity for national development. With electrical energy the people are
empowered to work from the domestic level and the cottage industries, through
the small-scale and medium industries to employment in the large-scale
manufacturing complexes.
Nigeria’s
state power company produces only a few hours of electricity a day, forcing
those who can afford it to rely on expensive diesel generators that drain
billions of dollars from the economy. Average Nigerians whose source of income
is below 1 dollar per day remain in total black out as they cannot afford
diesel for generators which courses untold suffering and pains to them as
majority of their activities is done
with power supply. Nigerian Government’s
have promise to generate 6,000 MW, or even more power through the old
Electricity Corporation of Nigeria, the former Niger Dams Authority and the
defunct Nigerian Electric Power Authority, now Power Holding Company of
Nigeria. (PHCN)
Mr. President vowed to reform the
power sector through privatization which he has succeed in doing so, on which the
complete payment is made last month which has been broken up into 11
generation companies and six distribution companies, all being sold separately
to private consortia, for a total of around $2.5 billion. Most bids were
led by Nigerian oligarchs or local firms like Forte Oil but many have
recognized technical partners like Siemens and Manila Electric Co. privatization in Nigeria can be traced back to 1992 when
Structural Adjustment Policy (SAP) was introduced which research has depicted
that SAP in Nigeria worsen the
economic standard of Nigerian’s because there was increase in cost of living,
increase in level of poverty resulted in serious industrial crises. It creates
dependency upon commodities which have artificially low prices as they are
heavily subsidized by economically dominant nations.
The
ball is now in the court since Nigerian government has shun there role in power
supply, optimistic that electricity supply will be improved from 40% to at
least 90% daily, because Nigeria government has invested billions of naira to
boost the power sector and the worst part is that Nigeria is
borrowing a total of $1.6 billion from the World Bank, Chinese Exim Bank, the
African Development Bank and through a Eurobond to upgrade the creaking
transmission network that connects power plants to distributing substations but
yet no power supply because of corruption and attitudinal in responsibility of
some Nigerians with the popular saying that ‘government work is not my father work’. Therefore they will
mismanaged and misbehave with public resources, in essence as the bid is been
sold to most of our political, industrial and commercial bourgeois here in
Nigeria, they will enforced strict measures to ensure that power is stable
across the federation.
Sadiq
Ibrahim Ayuba (SQ)
Political
Engineer (BUK)
Ibrahimsadiq194@gmail.com