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How Fashola describes experts claiming power failure affects economy

Published

9 years ago

February 2, 2018

Minister of Power, Works and Housing, Babatunde Fashola, has insisted erratic power supply does not affect Nigeria’s economy the way experts always present it.

“We hear all our so-called experts who say (non-availability of) power is why the economy of Nigeria is not growing,” the minister said at a civil society engagement workshop on the Power Sector Recovery Programme in Abuja during the week.

“That is not factual and it is not correct. At the time when we had less power in 2013 and 2014, the economy of this country was growing at seven per cent per annum.

“Power will clearly contribute to the growth but power is not the reason why the economy is not growing.”

He also pointed out industrialised nations of the world still battling with power supply problems, and Nigeria is importing goods from such countries as they industrialise faster.

“Today, we import things from India; all of India is not powered.”

He urged Nigerians to stop parroting the old stories and get more current information about what is happening.

“We know that the industries are not getting enough power, but the correct statement is not because there is no power. The reality is that we have 7,000MW and we are selling 5,000MW,” he added.

The APC government promised during the 2015 campaign to shore up the nation’s power output to 10,000 MW—for a population of about 200 million.

The minister said he has directed power distribution companies to find ways of collecting the outstanding debts owed them by public sector organisations,

He said the federal government has verified and given approval for the payment of its own debts.