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Electricity key to national devt

Gad-Peter told the News Agency of Nigeria (NAN) on yesterday in Jos that reforms must be undertaken in the electricity sector to achieve success like in the cases of Ghana, Argentina and Chile.

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“Expertise, time and money must be invested while, at the same time, management has got to be improved,” he stated.According to him, there should also be a regulator of this sector that is strong and independent of government interferences.

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The Director stated that, the electricity sector in the country needed about 10,000 MW to ensure full industrialisation and attract foreign investment, explaining that this was a far cry from the current capacity of less than 3,000 MW.

Gad-Peter lamented that there were about 2.1 billion people in the world without electricity of which 600 million were in Africa.

According to him, “The energy industry has always been critical to the growth of a nation.

‘’It is no wonder that, Africa is the poorest continent if one knows that more than 50 per cent of the world’s population without electricity are Africans,’’ he said.

The Director said America, Asia and Europe had all married their economy to their energy industry.

He pointed out that more than half of the electricity generated in the US came from coal, which was in abundance in Nigeria.

The federal government has set a goal of generating 6,000 megawats of electricity by December 2009 through the major power sector projects under construction in different parts of the country.

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