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Slow growth of economy not due to poor power supply - Fashola insists

Slow growth of economy not due to poor power supply - Fashola insists

- The minister of power, works and housing, Babatunde Fashola, faults expert trying to link slow economic growth to power supply

- He states that some nations have not solved their power problems but have industrialised faster than Nigeria

The minister of power, works and housing, Babatunde Fashola, has dismissed suggestions by some Nigerians that the slow growth of the economy is directedly linked to the inefficient supply of electricity in the country.

Fashola speaking at a workshop organised by the Power Sector Communication Team (PSCT) in Abuja, on Thursday, February 1, said so-called expert opinions trying to link the slow economic growth to power supply were untrue, This Day reports.

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He said: “We have heard our so-called experts say that power is why the economy of Nigeria is not growing, it is not true, it 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 7 percent per annum. We had less power than we have now but the economy was growing. So that is not the correct statement to make.

“It is not a correct statement at all. But power will clearly contribute to growth but power is not the reason the economy is not growing. That growth was fueled by oil. We sold a lot of oil and economy grew.”

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The minister stated that some nations have not solved their power problems yet but have industrialised faster than Nigeria.

In another report, Babatunde Fashola, has dismissed claims that the power ministry fraudulently awarded an N42billion contract.

The minister made this gave his defence on Thursday, January 25, when he was summoned by the joint committee to clarification on the part his ministry played in the N42 billion rural electrification projects allegedly awarded in contradiction of due process.

Fashola had a faceoff with the lawmakers during the proceeding as he maintained that the project followed due process.

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Source: Legit.ng

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