By Noah Ocheni, Lokoja
The Pro-chancellor, Chairman of the governing council of Federal University of Technology Akure, Amb. Godknows Boladei Igali said insufficient power is causing a gross economic loss of about $26 billion (over #10 trillion) every year in Nigeria.
Ambassador Igali disclosed this at a memorial lecture in honour of Late Engineer Joseph Makoju, titled ‘electric power sector reform in Nigeria: The way forward’ held at Adankolo Campus of Federal University Lokoja.
Dr. Igali identified proper supervision and regulatory environment as the way forward for robust Power sector in Nigeria.
He said “For a population of the size of Nigeria, the proper development of its power sector is critical to the country’s March into a rightful standing as one of the leading economies of the world.”
The guest lecturer stressed the need for the minister of power to provide robust policy guidance and supervision in the sector in line with the new privatised environment as it is in the rest of the world.
Despite the autonomy the of the privatised power companies, these entities are now confronted with low generation level, shortage of gas for the thermal plants and inability to evacuate adequately what is produced.
“More troubling occurrence in the power sector is the low level of energy mix. For a country that is largely endowed with multiple sources, it is a sad reality that these have not been fully tapped.”
He attributed this to serious payment issues, unimpressive regulator of the sector and limited energy mix.
The man Makoju according to Dr. Igali achieved tremendously in the power sector which includes breaking of NEPA into manageable entities, playing the supervisory role over private sector dynamism and raising the supply 4.8 megawatts in Nigeria.
Earlier, the the Vice Chancellor of the Federal University Lokoja, (FUL) Prof. Olayemi Akinwumi noted that the intensive memorial lecture in honour of late Engr. Makoju was not out of place in the University’s efforts to fulfill her town and gown obligations.
The Man Engr. Joseph Makoju was the MD. PHCN, MD, CEO. West Africa Portland Cement, (WAPCO), Special Adviser on Power, to three Nigerian President and special adviser to Alinco Dangote of Dangote Group of companies and many others respectively.
