Breaking News
Translate

ADC presidential candidate unveils plans for power sector

By Chris Ochayi

ABUJA—Africa Democratic Congress, ADC, presidential candidate, Dr. Obadiah Mailafia, has said if voted into power he will revolutionise the power sector of the economy, pledging that his administration will invest heavily in power transmission network.

electricity

Dr. Mailafia also promised to invite foreign investors to get them involved in building of power transmission equipment within the country, as well as open discussions with Russia or Ukraine on development of nuclear power.

Kaduna killings caused by leadership failure – ADC presidential candidate

The former Deputy Governor of Central Bank of Nigeria, CBN, who spoke in Abuja while unveiling his blueprint on power sector, however, lambasted the electricity distribution companies, DISCOs, for poor performance.

According to him, “the power sector reforms were less successful. Despite investments of more than US$20 billion of public funds, electricity generation has never quite exceeded the 5,000 MW mark.

“Part of the problem has been the mix of incentives that would encourage the power distribution companies, DISCOs, to plough back their profits into further investments in the sector.

“Should they stay or should they go? Nigeria’s dilemma on FDI”

“There has also been little or no investment in power distribution.”

, leading to a situation whereby excess power generation has had no outlet for distribution to consumers.”

On his approach to tackling the power conundrum, Mailafia noted that “among the binding constraints to national development is power and infrastructure. We are committed to investing heavily in power transmission systems by making deals with foreign investors to come in build power transmission equipment within our country.”


Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.