AMID the country’s dire energy crisis, stakeholders are fixing attention on the new Minister of Power, Adebayo Adelabu, and on his promise to transform the power sector via a seven-year programme the government says it is minting. Nigeria’s economic potential has been largely chained down by inadequate power generation and supply. For the economy to grow at 10 per cent yearly, some experts reckon that electricity power supply must reach 78,000MW by 2030. It should make arrangements to relinquish its minority stakes in the privatised companies, and nudge the current majority stockholders to do the same and make way for formidable global power sector firms. To attract domestic and foreign investment, transparent and accountable governance is essential.

Source: Punch September 07, 2023 12:24 UTC