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Power will increase Nigeria’s growth rate – Minister

By BusinessNews Staff on April 28, 2014

Efficient power supply can increase Nigeria’s growth rate to double digits, the Minister of Power, Prof. Chinedu Nebo, has said.

According to him, Nigeria may emerge as one of the top economies of the world if power situation in the country is adequately addressed.

Nebo, in a statement from the Federal Ministry of Power, also called for training and development of Nigerian engineers who, he said, would man the power sector.

He said, “It is obvious that power stands as a key to industrial revolution in Nigeria. We are rejoicing that Nigeria is now the number one economy in Africa, growing at a rate of more than 6.5 per cent annually.

“But experts have said that if power is corrected and we have enough of it in Nigeria, our growth rate might get to double digits and that is a challenge for all of us. We are now number 26 economy in the world, but power alone can get us, faster than anything else, to one of the top (economies) in the world.”

The minister assured that the Federal Government would continue to do everything possible to reposition the National Power Training Institute of Nigeria to enable it to give an indigenous face to the sector through relevant training modules.

Nebo, according to the statement, spoke at the NAPTIN permanent site while on an inspection tour of on-going construction of its administrative tower.

He said the sector would take advantage of the local content initiative of NAPTIN by making it a centre for functional professional capacity building.

He said, “Within the limited available resources, the institute has been prudent, hence we must ensure that NAPTIN is not marginalised as the institute remains the bedrock of a functional power sector human capital building institute.”

Nebo said the President’s recent employment of a large number of engineers had broken over 16 years of lull in the recruitment of professionals into the sector.

The Director-General, NAPTIN, Mr. Reuben Okeke, said the project was at 70 per cent completion stage and would be commissioned before the end of the year.

He said the structure was envisaged to incorporate electricity generation and distribution schools, as well as a transmission substation that would serve as an instructional facility, while also supplying electricity to the industrial layout.

[Punch]

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