By Dele Sobowale
“The Federal Government last week approved the sum of $3.7bn to improve power transmission so as to wheel 20,000MW”, Vice-President Sambo in Canada.
National economies run on power and it is no longer news that low power output has been the major constraint militating against Nigeria achieving double-digit gross domestic productivity, GDP, growth. For a country whose publicly generated power had been less than 5,000 MW for decades, it is a minor miracle that we have consistently achieved close to 7 per cent GDP growth for about five years in a row.
However, that miracle is partly explained by the fact that Nigeria actually generates more than the official 4,250 MW. Unfortunately, nobody knows how much power this nation actually produces. For instance, the major oil producers have never depended on the Power Holding Company of Nigeria, PHCN, for their power supply...
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