President Muhammadu Buhari has
revealed
that a total overhauling of the Nigerian power sector has commenced so
as to enable industrialisation.
Speaking at the United Nations Industrial Development Organisation’s
event held on the sidelines of the ongoing UN General Assembly in New
York, President Buhari said his administration commenced a comprehensive
overhaul because Nigeria, like many other African countries, was facing
power shortages that have prevented its potentials to grow.
He said, “For us in Nigeria, we are placing emphasis on diversification
of our economy using Small and Medium Enterprises, energy and mining
sectors and agro-allied industries."
Continuing, he said, 'Specifically, we can attest to the viability of
small businesses to boost growth and create more jobs for the youth and
serve as the precursor of full industrialisation.
'Nigeria and many other African countries are facing power shortages which have impacted negatively on our growth potential.
'Industrialisation cannot take place without reliable energy
infrastructure. We are, therefore, working on a comprehensive overhaul
of our power industry.
'For industrialisation to be attained, Africa must adopt practical
policies and strategies. We need to safeguard the interest of local
production in an era of rampant globalisation. We also need to enhance
regional and cross border cooperation,' he said.
Nigerians will soon enjoy power - Buhari
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