Recent Posts

Nigeria's Power Sector Reform Roadmap - Missed Target or Still on Target


Power failure and the inability to get power to so many Nigerians by the Government has been a major issue in the Country as it is one of the major problems facing the nation and its citizen. Most Businesses done in Nigeria requires electricity but the fall of power has left so many businesses in a state of liquidation while some are just struggling to match up with the situation. Many businesses has since moved their businesses into other neighboring countries like Ghana where there is a stable power supply thereby costing the nation some loss of tax revenues.

Over the Years several past Government has embarked on several plans and projects to meet a desirable and appreciable level of power supply but several years has since past and yet Nigeria is still drowning in the same power supply problems. Several Billions has been injected into this sector by so many past government but no one can say for sure where those money actually landed on as most targets declared by them were not met.

This Present Government also has started several plans in bringing about a stable power supply while working with several private partners on this but only GOD knows if we will truly meet the target this Time or like the previous ones miss the target.

On Tuesday in Abuja, The Federal Government and the United States reaffirmed their commitment to implementing the reform of the power sector and instituting best practices to assure optimal performance and attract needed investment.

Both Nigeria and the United States stressed the importance of the Global Alliance of Clean Cook Stoves and affirmed their support for fuel-efficient cook stoves, especially to rural communities in Nigeria. Both nations agreed on the critical nature of the power sector to economic growth in Nigeria.

The Government of the United States pledged to continue working through the U.S. Agency for International Development to enhance capacity building in support of private sector participation in Nigeria’s power sector.

The government of Nigeria pledged to work toward a timely and comprehensive reform of the petroleum sector, recognising the critical benefits to Nigeria of a stable and transparent investment framework that upholds global standards of sanctity of contracts and comparable taxation regimes.

I Hope this new partnership will bring about the needed Power stability we have all been hoping for and bring an end to all the failed promises we always get during election campaigns.

Tags:

Related Posts

No comments:

Leave a Reply