Positioning The Electric Power Sector For Electricity Sufficiency In Nigeria To Meet Up With Vision 2020.

ABSTRACT

Electricity, of which Light is a product is the whole essence of life.

This informed God's decision to command light into existence

before the creation of all other things. Unfortunately, the

undertakers of our electric power sector will not allow this

beautiful idea of God to work in this country [2].

Electricity is not a primary source of energy; however, it is one of

the most versatile forms [3]. It is known to play a significant role in

the advancement of the standard of life of mankind. The electricity

per capita consumption has a strong correlation with national

Gross Domestic Product (GDP). Available evidence shows that a

robust power supply has high positive multiplier effect on the

entire economy. With her tremendous potentials in material and

human resources, Nigeria lags behind in the provision of needed

electricity [4].Electricity is an engine for growth for industrialization,

manufacturing and the running of the basic needs such as food,

health and water. Thus electricity can be described as a hub of the

economy. No wander one of the seven – point agenda of Mr.

President, Alhaji Umaru Musa Yar'Adua on assumption of office

on May 29, 2007 is power and energy. Others food security, wealth

creation, human capital development, mass transit, security and

land reform revolve around power and energy.

Inadequate and unreliable electricity is a threat to social and

economic life. It deters investors, entrepreneurs and managers. It is

an obstacle to business as it increases the cost of doing business,

business risk and uncertainty of investment. Indeed, electricity is

not just an intrinsic aspect of development, it is also an essential

pre – condition for sustainable development since no meaningful

socio – economic growth can be attained without it. In the word of

Mr. President, “without adequate and reliable electricity

generation, no nation can transform into a modern economy”.

Inadequate and unreliable electricity is a hindrance to food

security, wealth creation, human capital development, mass

transit, and security. If we insist that by the year 2020, barely

twelve years from now, our economy is expected to join the world's

twenty largest economies in GDP size, then the electricity issue

must be considered the top most of priorities. If we fail in this  

sector, we can as well bid farewell to any aspirations towards 2020.