Falae Blames Power Sector Crisis On Levity
A former Minister of Finance, Chief Olu Falae, says Nigeria is still having difficulties solving its energy crisis because its leaders are handling the critical sector with levity.
Falae, who spoke to our correspondent in Akure, Ondo State, said the country would not achieve its desired social and economic growth if the energy issue remained unresolved.
He noted particularly that the former President Olusegun Obasanjo administration treated the power crisis with levity as it awarded contracts to fake contractors.
He said, “In fact, the economic literature states that the power consumed per head in a population is often taken as a proxy for development. The higher power consumption per head, the more there is progress in the economy.”
Falae, who urged the Federal Government to revisit the 1975 Third National Development Plan, said himself alongside some Nigerians, including a former Vice-Chancellor of the Obafemi Awolowo University, Ile-Ife, Prof. Ojetunji Aboyade, prepared a document on how to move the power sector forward.
He said, “Aboyade came to the ministry to join us in producing the document. The chapter on power states categorically that Nigeria’s demand for electrical power by 1980, will be 6, 000 megawatts. I made the projection.”