Should the current [/size]poor power supply situ[/size]ation linger till 2020, Nigeria stands to lose about $130 billion, a partner at KPMG, Kunle Elebute, has warned.
[/size]Elebute, who spoke at the Lagos State Economic Summit (Ehingbeti 2012), yesterday, urged the Federal Government to tackle the issue of lack of electricity infrastructure, such as gas pipelines, transmission lines and transformers. He said the government should provide a conducive investment environment and incentives, among others, to attract the private sector into the power sector. His paper was entitled: Towards power sufficiency for Lagos.
[/size]Other participants at the summit agreed that poor supply poses serious challenge to industrial and overall economic development of the country despite the huge potential in the country to actualise its energy needs.
[/size]They said Nigeria has the potential to become an energy-sufficient country if only it could adequately utilise the abundant resources in the country for power generation.
[/size]The former Secretary for Energy and two-term Governor of New Mexico, United States, Bill Richardson, agreed, saying Nigeria has abundant alternative clean energy sources to generate energy needs.
[/size]He said the success of the telecoms sector is a clear indication that the same feat can be achieved in the power sector, if the right regulatory and operating framework are put in place, adding that building a 21[/size]st[/size] century electricity facility is possible and urged the government to fast-track the privatisation process in transparent and accountable manner. He commended the Lagos State Government for its commitment to energy development.
[/size]He said: "I commend Lagos State for the strong entrepreneurial spirit. The future is very bright for Lagos State. You have abundant resources and you have solution mechanism to the problem. I think the nation’s problems should be first attended to through Lagos solutions because you are the commercial nerve centre of Nigeria."
[/size]He said Nigeria should not depend only on oil and gas but also ensure a stable electricity supply, to grow its economic potential.He urged Nigeria to emulate California with its "million solar roof agenda because Nigeria has the resources.
[/size]"Nigeria can choose a clean path in providing electricity. You have abundant gas resources; have the opportunity to provide renewable energy. You also have hydro resources; you have wind energy and other renewable energy sources.
[/size]Because the population is growing very fast, you need continuous investment and upgrade of facilities to ensure a sustainable power supply. You can do it. You have the resources. You have the leadership, so, go ahead and do it," he said.
[/size]The state Commissioner for Energy and Mineral Resources, Taofiq Tijani, restated government’s commitment to make the state a mega city through its various power initiatives that are already yielding results, adding that the state will exploit its potential to meet the energy needs of its residents currently put at about 12,000 megawatts (MW).
TheNation
I don't think the government in Nigeria can do anything about the power supply.It will take God to come down on earth and attend to that.