Stiff Regulation Reason For Nigeria’s Dysfunctional Power Sector, says Accord’s Professor Imumolen

Stiff Regulation Reason For Nigeria’s Dysfunctional Power Sector, says Accord’s Professor Imumolen

  • Professor Christopher Imumolen has stated that the Nigerian power sector has to be opened to local and international players
  • The Accord Party presidential candidate made the declaration while briefing journalists on his plans for the power sector if elected
  • He stressed that the sector's current status of a stiffly regulated realm is not apt, even as he queried the mismanagement of funds generated so far in the industry

FCT, Abuja - Nigeria's youngest presidential candidate and candidate of Accord Party for the 2023 election, Prof Christopher Imumolen has lamented over the current status of power in Nigeria and has proffered modules for the development of the sector.

Professor Imumolen during a recent media chat in Abuja stated that the power sector has to be opened to local and international players, stressing that its current status of a stiffly regulated realm is not apt.

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Professor Imumolen says corruption must be tactically killed in Nigeria's power sector. Photo credit: Accord Party
Source: Facebook

He said more players are needed in the generation, transmission and distribution segments and that deregulation has to be ensured by the Nigerian Electricity Regulation Commission.

He described as unfortunate the fact that Nigeria has only been able to cover 50% of the nation in terms of power supply since independence.

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Prof Imumolen also condemned Nigeria's low generation capacity which currently stands at a dangling 6,000 megawatts despite the investment of hundreds of billions of naira by successive governments.

He queried where the about $5 billion generated as tariff annually go to.

The young presidential candidate decried the spate of corruption in Nigeria's power sector and others, pointing out that for Nigeria to escape the abysmally low supply to homes and industries which stands at an average of 2 hours per day presently, corruption must be tactically killed.

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He also stated that the business of energy generation, transmission and distribution must be entrusted in the hands of professionals who know the business and not to political acolytes or clients.

His words:

“For a remarkable impact and success to be recorded in the power sector, it must be handled with government sincerity as a vital sector tightly hinged to national development.
“With adequate power supply, a palpable economic vibrancy will be injected into the economy and large, small and medium enterprises will boom.”

He further emphasised the urgent need for a more friendly investment atmosphere in the power sector, to attractive to players who will make power stable in Nigeria.

According to him, Nigeria's inability to provide adequate power for its citizens since 1960 is disgraceful, adding that the country can only attain overall productivity, prosperity and development when her sectors thrive.

Prof Imumolen launches national prosperity system for Nigerians

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Recall that Professor Imumolen recently launched an economic system tagged: "I Will Prosper."

The initiative is aimed at providing economic respite or succour to Nigerians to ameliorate their living plights and catalyse prosperity for all.

The program is expected to create collective prosperity towards eradicating increasing socio-economic despondency and frustration in the society.

Imumolen cautions Nigerians on who they vote for in 2023

Prof Imumolen had earlier declared that only a candidate who is not affiliated with any sect in Nigeria can solve the challenges faced by the country.

Speaking at a youth gathering commemorating International Youth Day, Imumolen said voting right is the only way to ensure that critical issues are addressed.

He also said he has commenced the process of preparing the minds of voters to vote right in the coming election and to educate all and sundry on the kind of personality needed to get Nigeria back on its feet.


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