Drawing a comparative analysis, he underscored the disparity between Nigeria’s ineffective utilization of funds and other countries’ successful endeavors in expanding their electricity infrastructure. In light of these revelations, he proposed a pragmatic solution to address Nigeria’s energy crisis: advocating for regional ownership of Distribution Companies (Discos) coupled with strategic investments in various energy resources.
He said in an interview with Channels TV, ”Dr Nnaji had just built a power plant for the people of Abia state with less than $1Bn. The previous government said they were going to probe the 16 billion dollars wasted by the Obasanjo regime on electricity. At the end of the day, nothing happened. This country has spent nothing less than 50 billion dollars to generate darkness in the country.
Whereas in Egypt, within two years they built 14,000 megawatts for 9 billion dollars. South Africa has the highest megawatt in the continent, about 80,000. They use coal and other resources. And we are saying here that let each of the regions acquire the Discos in their areas and get experts to take advantage of the energy resources in each of the geopolitical zones. Gas energy, Wind energy, Solar energy, Hydro energy, and so on and so forth. So that each region in the next two to three years, we can compete.” CONTINUE FULL READING>>>>>
