Former presidential candidate, Peter Obi has warned that Nigeria’s recurring power outages and costly petroleum products could exacerbate poverty in the country.
In a statement on Sunday, Obi expressed concern over the devastating impact of power outages on small businesses, citing the Northern, Eastern, and South-South states as the most affected.
“The continued power outages in many parts of the country have remained a cause of grievous concern.
“It is heartbreaking to see that the affected states, majorly in the Northern parts of Nigeria, have been facing a total blackout for several days now,” Obi said.
Obi noted that the negative impact of the continued power outage on businesses, especially small businesses, is unimaginable.
“This power crisis, when combined with the present high cost of petroleum products and a harsh operating environment, remains a lethal recipe for widespread business failure and increasing poverty in the country,” he added.
The former Anambra Governor emphasized that solving Nigeria’s power and energy crisis is not rocket science, citing Egypt’s successful investment in its power sector.
“Today, Egypt has revolutionized power and energy production in the country, providing sustainable power to millions of small businesses, which account for over 90% of active enterprises in the country and contributes to over 80 percent of their GDP.”
Obi sympathized with those affected, urging the government to increase its efforts and provide both immediate and long-term solutions to the ongoing issue.
Nigeria’s national grid has collapsed eight times in 2024, with the most recent incidents occurring on October 14, 15, and 19.
Minister of Power, Adebayo Adelabu had attributed the frequent system failures to outdated infrastructure.
The Transmission Company of Nigeria (TCN) reported a power outage in the north-east, north-west, and parts of north-central on October 22, citing a fault on the 330-kilovolt Ugwuaji-Apir double circuit transmission lines.
Repair work is ongoing.
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