A former Minister of Power, Prof. Barth Nnaji, has blamed perennial power supply in the country on inability of regulatory agencies to discharge their duties effectively.
The former minister stated this while speaking at a session of Senate ad-hoc Committee on Power investing activities in the power sector on Wednesday in Abuja.
He regretted that in spite of huge investment in the sector over the years, Nigerians were yet to enjoy adequate power supply.
He said that about half of the power being generated was not getting to the consumers as a result of poor transmission.
“Out of the amount of power that is distributed to transmission companies, only about 50 percent of it gets to the consumers; it is an incredible inefficiency in the power system that must be cured,” he said.
In his remarks, President of the Senate, Bukola Saraki, who was represented by his deputy, Ike Ekweremadu, said that epileptic power supply witnessed in the country over the years was a major challenge.
“You don’t have to be an economist to observe that if we do not improve on the availability and accessibility of adequate power to drive the economy, our developmental aspirations will continue to emaciate,” he said.
Saraki explained that it was in recognition of the pivotal role played by the power sector in aiding development that the senate decided to place enormous emphasis on the improvement of the sector.
He explained that the reason for the probe was because there was a cleavage between the public investment that had been made in the power sector and the returns Nigerians saw in the sector between 1999 and 2014.
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