The Manufacturers� Association of Nigeria (MAN) and potential investors complain that electricity is their biggest challenge, two times more problematic than finance.
Diran Fawibe, chief executive officer, International Energy Services Limited and chairman, energy committee, Institute of Directors (IoD), told Business Day that the problems of the various power plants, gas pipeline vandalism and gas production cut by oil companies, were responsible for the power crisis.
According to him, �the question is: what is the solution to the problems in the energy sector? When will Nigeria have relief in terms of security of energy products to the economy? Is there any solution in sight to assure Nigerians that the growth of the economy will not be stunted by energy shortage given the fact that Nigeria is a major producer of oil and gas, which ordinarily should form the basis of energy security and guarantee energy supply to the economy?�
Fawibe disclosed that due to the precarious situation of the power sector, IoD would focus on the sector in its in-coming business luncheon.
According to him, Emmanuel Egbogah, special adviser to the president on petroleum matters, is scheduled to examine these issues with a view to giving different perspectives on whether or not the energy problems can be fixed within a reasonable time in order to sustain the growth of the Nigerian economy.
Fawibe said it was abundantly clear that the energy industry was in a state of crisis, both the power sector as well as the supply of petroleum products to consumers.
The end-result has been a reduction in the output of power generation for transmission and distribution, noting that the president during his inauguration had declared to the whole world that the Nigerian energy problem would be one of his seven key-point agenda.
To underscore the seriousness being attached to this issue, the president planned to declare power emergency, which would involve radical policy changes and programmes for the power sector.
Meanwhile, the committee set up to develop a roadmap for the country to attain 6, 000 megawatts capacity by 2009 has only four days left to complete this assignment.
Mar172008