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How Buhari can solve Nigeria’s energy challenges – NAEE

By on June 22, 2015

The National Association of Energy Economists (NAEE) said at the weekend that for President Muhammadu Buhari to solve the country’s energy challenges, his government must seek to build and sustain institutional transparency in the sector

NAEE told journalists at a briefing in Abuja that without careful sequencing of key energy policies to minimise economic loss, the new government may not be able to successfully solve Nigeria’s energy challenges.

They explained that instead of concentrating on distributing legacies in the form of political appointments to satisfy interests, the new government should seek to strengthen key economic institutions like the Nigerian Electricity Regulatory Commission (NERC) and Central Bank of Nigeria (CBN) amongst others to undertake their responsibilities without recourse to political interests.

NAEE said that with over N6 trillion reportedly spent to subsidise domestic petrol consumption in the country since 2006, it was economically illogical to continue with subsidy because it benefits the rich more than the income redistribution it was intended to achieve, amongst other ills.

 

[ThisDay]