FG attributes success of power sector reform to stable polity

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‘Transparency of 2011 polls makes Nigeria attractive to foreign investors’

BY CHRIS OCHAYI

ENUGU — The Federal Government, weekend, attributed the huge investments recorded in the power sector, following the successful privatisation of the sector, to political stability in Nigerian since the conduct of 2011 general elections.

Chairman of Nigerian Electricity Regulation Commission, NERC, Dr. Sam Amadi, who disclosed this while speaking at the Biennial Keyman dinner of Enugu Chamber of Commerce, Industry, Mines and Agriculture, ECCIMA, at Nike Lake Hotel, noted that the influx of foreign investors in the sector was made possible by free, fair and transparent 2011 polls, which restored confidence in the polity.

Dr. Amadi stressed that despite divergent political views, the opposition did not oppose the power sector reforms embarked on by the government of Peoples Democratic Party, PDP, because of its benefits to the country.

He said the insecurity in some parts of the country notwithstanding, Nigeria remained attractive to foreign investments, with economic growth, because of stable polity, noting that economic growth could not be achieved during political instability.

He said: “Nigeria’s political scene has experienced stability since the 2011 elections said to be most transparent in the history of our elections.
“We have stabilised political environment and that is why insecurity is insignificant to economic growth.  But we can’t say this under unstable polity.“

Dr. Amadi, who was guest speaker on the occasion, spoke on the new power sector regime as a panacea to stable and quality electricity supply to unleash and prime industrial and economic activities in Nigeria.
He said with the successful handing over of power assets, the nation had entered the second phase which had to be with effective and reflective pricing system.
”The politics of pricing is such that it is difficult asking people to pay for a product that is under supplied. Most Nigerians households and businesses are starved of electricity.

 

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