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Power Reform And Nigeria’s Globally Uncompetitive Businesses

By on December 14, 2011

Tonight is just like those that gets me pissed with myself. It is because PHCN has beaten to the game with power outage. I had made some masterstrokes and when I was beginning to build on that PHCN struck; whereas was given light for not more than fifteen minutes. Within this small timeframe, I just have to cram in more into it and achieve some goals but now I am wretched by pressure although imposed by me. The power dilemma makes Nigerian’s businesses globally uncompetitive.

Our globally uncompetitive businesses are frustrated by a non-existent infrastructure which augments the cost of doing business astronomically. Speeches have been given about how we can revive our moribund electricity which generates a poor amount of 4,000 megawatts. With unemployment edging up to 21.1%; and for urban canters it is hovering around 30-35%. Poor power supply stymies our development and market investors shy away from doing business with us.

Federal government revenues are consumed by growing recurrent expenditure which thrives from bloated bureaucracy, wasteful maintenance and inefficient systems. It all leaves a wide gap for capital spending which has to be catered for by borrowing. Such spending is subsumed in politicization; shoddy coordination, duplication with a predisposition to creating fresh projects while unfinished ones are all over the places.

In all the solution can be found by we having more knowledgeable, courageous, committed and sincere leaders in public sector and the OPS. Pursuing political stability, consistency in government policy, transparent process and incentivizing private sector investment will stir a deluge of interest in our economy. Meeting 100,000mw of electricity becomes attainable by 2020.