Electricity
The importance of electricity in human endeavors and growing the Nigerian economy cannot be overemphasized as it plays crucial roles.
In the time past, many people have suggested that fixing the power sector could go a long way in reducing the high rate of unemployment in the country.
Also, some people believed that the teeming Nigerian youths who graduates every year from different tertiary institutions in the country won’t need to wait on Government to give them job if the power sector is in good condition.
In the year 2019, many stakeholders in business opined that fixing an unstable power supply, bridging infrastructure gaps, and creating an enabling environment is fundamental to business and economic development.
One of those who made the call was the Director-General, Lagos Chamber of Commerce and Industry (LCCI), Mr. Muda Yusuf.
He said the provision of stable power remains at the heart of ease of doing business in the country, as the power challenge impacts adversely on productivity.
Also, the president, Culinary Arts Practitioners Association, Tiyan Alile said taxpayers’ money and generated revenue should be used to drive the power agenda toward boosting the competitiveness of businesses.
Mr. Solomon Aderoju, chairman, Lagos State Chapter, Nigerian Association of Small and Medium Enterprises (NASME), said supporting SMEs to flourish was crucial to growing a middle class with disposable income and employment creation.
Also, Hamma Kwajafa, director-general, Nigerian Textile Manufacturers Association (NTMA), said there was the need to sustain liquidity and stability in the foreign exchange market towards averting shocks in the business environment.
However, he urged government to evolve a mechanism that would make funds available and accessible at an affordable rate to boost productivity, employment, competitiveness, and contribution to Gross Domestic Product.
Meanwhile, it is like adding salt to injury when Mr. Usman Mohammed, Managing Director, Transmission Company of Nigeria (TCN) announced that consumers should be prepared to pay more for electricity in order to ensure regular power supply in the country.
According to him, Nigerians have to be prepared to pay more for electricity because there is no relationship between poverty and payment of electricity.
He stressed that the nation could not move forward if Nigerians do not pay more for electricity, as he also urged the government to stop subsidizing the power sector to move the industry forward.
According to him, Nigeria has the cheapest electricity in West Africa, noting that the country was not the poorest among the committee of nations.
Everyeveryng gathered that various companies reveal that they spend as much as 20-25 percent of their total operating provision of alternative power and payment to electricity distribution companies.
Given the condition of the Nigerian economy and the state of power supply in the country, is it by any means justifiable for Nigerians to pay more for electricity?