The inadequate supply of electricity is not the reason why the country’s economy is not growing, the Minister of Power, Works and Housing, Babatunde Fashola, has said.
According to Fashola, experts who attribute the slow growth of Nigeria’s economy to power supply challenges make such arguments without facts and are not correct.
The minister stated these at a civil society engagement workshop on the Power Sector Recovery Programme in Abuja. Fashola said, “We hear all our so-called experts who say (non-availability of) power is why the economy of Nigeria is not growing.
That is not factual and it is not correct. At the time when we had less power in 2013 and 2014, the economy of this country was growing at seven per cent per annum.
He further argued that some industrialised nations of the world were still faced with power supply problems, stressing that Nigeria was importing goods from such countries.
“So, let us stop repeating the stories that we have been told and get more current information about what is happening.
We know that the industries are not getting enough power, but the correct statement is not because there is no power. The reality is that we have 7,000MW and we are selling 5,000MW.