Nigeria’s Current Power Generation Is Shameful – FG

The Federal Government has come out to present the outcomes of its review of the accelerated stabilisation and advancement plan.

Recall that the plan seeks to inject N2tn into the economy in the next six months, and Nigerians have been reacting.

According to President Bola Tinubu, his government is determined to increase crude oil production to two million barrels per day and generate more electricity for Nigerians in the coming months.

He added that the country’s current power generation and crude oil production is nothing but shameful.

His words, “As a nation, it is so shameful that we have about 4.5 gigawatts. We must increase our oil production too to 2 million barrels per day within the next few months. Remove all barriers hindering investments into the sector to enhance competitiveness. We’ve had a challenge thrown at us and all of us will have to be careful.

In the face of it, we have the change of energy security; we need to work together to include power, oil and gas to increase our own grid’s electricity. We are determined to do that with your cooperation, collaboration and recommendation.

If you look at the Sokoto-Badagry road, there are about 36 areas dams that we can tap electricity from and generate additional electricity, and help agriculture and create arable farmland.

I am ready to listen to you in all of that. You have seen us from close quarters, but we are one. We feel the market pinches differently, including the price of food and all of that.

I believe Bismarck Rewane will be able to make additional suggestions on what we are lacking and what we should do to stabilise this economy. The manufacturing stabilisation fund, MSMEs too and other fiscal measures have been narrated; I just want to say thank you for responding to this call.”