Nigeria Exchange
News
About Us Advertise NgEX.com News Business Addresses Nigeria Events Newspapers Newsletter More
Search Nigeria Sites & Businesses Search Tips


 
News General Sports Business Odd / Funny Tech Entertainment Articles Author Login Comments More Categories Author List
 
 
Email A Friend  |   Print
 


x
Only about 55 per cent of Nigerians have access to electricity - President Jonathan
| February 11, 2014
In an address read on his behalf by the Vice-President, Namadi Sambo, at the Nigeria Power Sector Investorsâ Conference in Abuja, President Goodluck Jonathan said that only about 55 per cent of Nigerians have access to electricity and Nigeria will need about $2.9 trillion for infrastructure development over the next 30 years. In the speech, the President addressed the issue of 45 per cent of the countryâs population not having access to electricity, saying âThis arises mainly from the fact that Nigeriaâs per capital electricity generation is relatively one of the lowest in global terms. Even then, power supply from the national grid still remains as low as 50 per cent. âIn order to meet our strategic national economic growth and developmental goals as encapsulated in the Vision 2020 and the transformation agenda, we needed to take decisive and courageous measure to work towards a 40,000MW target in the years ahead. This informed our decision on reform and privatisation.â He also spoke about the investment required for infrastructure development in Nigeria, saying, âUnder our Integrated National Infrastructure Master Plan, we need a total of $2.9tn for our infrastructure developmental efforts in the next 30 years, from 2014 to 2045. The energy sector alone needs an infusion of $900bn during the period. Of this, a significant percentage is expected to come from the private sector. âThe power sector alone needs about $10bn for CAPEX of the generation and distribution companies in the next few years in enabling us to add additional 5,000MW. Similarly, our transmission network continues to attract serious attention. The transmission grid requires an annual investment of about $1.5bn for the next five years to ensure its reliability and stability. âThe Transmission Company of Nigeria has commenced the aggressive implementation of the expansion blueprint funded by a mix of appropriation and funds from financial and multilateral institutions.â He also said that the Federal Government is setting up a Power Sector Intervention Fund, with an initial deposit of N300bn, to provide affordable refinancing and lending services to the sector.

(2) Comment


Comments

"The views and opinions expressed in these comment(s) or article(s) do not necessarily reflect the views or opinions of NGEX, its partners or its affiliates."
"Coming In From The Cold"    USA, U.S.A.    February 14, 2014
Only about 55 per cent of Nigerians have access to electricity; huh! But how many per cent of the time? 100 %?, 50%?, 10%? or 1% of the time?

So, what's your point, Mr. President? Please stop giving us statistics that doesn't make any sense; I can't take it any more.

One Yoruba proverb say, "grandma say she dey sick but agidi (solid akamu) dey enter room, empty leaves or plates dey come out, but who dey chop the agidi now?

By the same token, money dey enter projects; projects remain undone, treasury dey empty, but where the money dey go now?

Babangida Barawo, Ole Obasanjo, Jaguda Jonathan, Onyeosi, Onyeora for Others.

Let Nigeria scatter; God has nothing to do with this. God did not save Sodom and Gomorrah. Why will God save Nigeria?

The change that we all want or desire will not come by way of democracy or prayers. Humans don't ever heed warnings or threats; only pain, suffering or death. These greedy plunderers called leaders will not stop or mellow down until the die is cast and made to run helterskelter.

Let God send the man-on-horseback, the equivalent of J.J. Rawlings, who will come down with the hatchet on those who fail to be mild in their greed.

Even though we don't want or desire it, it's only the junta that can stop them dead on their track. For those who don't believe, watch out; the junta is coming back. Enough is enough; something must give, haba!
OMOTAYO, J. A.    Accra, GHANA    February 11, 2014
Humm! They mention trillions of US Dollars as if calling millions or billions of Naira. If $2.9 trillion is required for infrastructural development and as today the federal deficit-hinged budget is about $0.031 trillion (equivalent of N4.7 trillion using $1 = N150), then it will take us 92.6 years to meet up. Sorry o. Perhaps the good things of life are not for the millions of the present generation of Nigerians. Blind and foolish people in power!

Spending and spending without thinking of the future. The truth is that we do not need such a huge amount of investment. In fact, we do not need 10% of what they are talking about if we have master planners in positions of authority. Humm! God save Nigeria.
Results » 1-2 of 2      Result Page »  <   1  >

More News »
 
follow NgEX on Facebook
 
Submit An Article
 
"Press Releases"    More »
IS THIS TRULY MUTINY?????????
Abiodun Idris | December 22, 2014
Greatest Nigeria students and masses of our dear country. I want to start this write up by saluting...
Submit A Press Release »
 
News / Comments   More »
Debts: What you should know as a Nigerian entrepreneur
February 25, 2016 | Gary Crenshaw | 1 posts
It is normal for businesses to owe money at the beginning of a business. That's what separates entrepreneur...  Post comment »
 
 
Article / Comments   More »
Piracy In The Gulf Of Guinea: Africom And This Dangerous Ahoy
March 11, 2013 |  Aliu Magaji | 1 posts
This is good. The writer wrote from Avery informed standpoint. Th recent joint military exercise must...  Post comment »
Will The New N5,000 Currency Bring Inflation? - Part 1
September 20, 2012 |  Mr Ezedibalugbo | 1 posts
The issue of new N 5000 currency is not adverseable to our economy, In my own ponit of veiw our economy...  Post comment »
 
Poll
 
Submit An Article
 
 
   
     
 
Copyright © 2005 -2013 NgEX. All rights reserved.