Expert says energy sector has capacity to drive Nigerian economy

Posted by Amechi Obiakpu, Lagos | 12 November 2015 | 2,407 times

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The energy sector has the potential to drive the Nigerian economy if more attention is focussed on it, an energy expert has said.

Speaking Tuesday at an International Investment Conference organised by the Lagos Chamber of Commerce and Industry (LCCI) under the theme, ‘Challenges in efficient service delivery of power distribution’, Darwin Peters said electricity is the key of the economy if it is added into the economic mix.

He said that as the international oil price continues to fall, attention should be fixed on the energy sector as the next major source of revenue generation. He however noted that a lot of work is still needed to be done as the country continues to work toward a stable power supply.

“Once Nigerians have power, we are going to unlock the utilities in the economy but achieving that feat doesn’t happen overnight, especially when the sector has been neglected for more than 20 years,” Peters said, adding:

“A lot of people are not paying their electricity bills and for business to thrive people need to pay and a whole lot of the structures acquired by the new electricity companies are obsolete and need replacement.”

Peters expressed optimism that in a few years time power supply in the country would be stable judging by the commitment of the new administration to revamp the sector.

•Photo shows Darwin Peters.

Source: News Express

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