Power crisis: Blackouts crippling businesses – Peter Obi warns

Mon, Oct 28, 2024
By editor
2 MIN READ

Politics

….Calls for immediate solutions

IN light of the persistent power outages affecting much of Northern, Eastern, and South-South Nigeria, Peter Obi, the Labour Party’s presidential candidate in the 2023 general elections, expressed deep frustration over the ongoing crisis.

Obi highlighted that the prolonged blackouts, particularly severe in Northern states, have dealt a crippling blow to countless businesses, many of which depend heavily on a reliable public power supply.

“This power crisis, combined with the current high cost of petroleum products and the challenging economic environment, is a devastating mix leading to widespread business failures and increased poverty across Nigeria,” Obi stated. The lack of power has severely impacted small businesses, which form the backbone of the Nigerian economy and serve as a primary source of income for millions of Nigerians.

Emphasizing that Nigeria’s power challenges are “not rocket science,” Obi pointed to countries like Egypt, which have achieved remarkable advancements in power infrastructure. He noted that Egypt’s aggressive investment in power stations has transformed the country’s energy landscape, now providing reliable electricity to millions of small businesses that drive over 80 percent of Egypt’s GDP.

Obi urged the Nigerian government to implement both immediate and long-term solutions to address the crisis and relieve citizens facing these “tough times.” He concluded with a call for leadership to pursue viable power reforms, asserting that “a New Nigeria is Possible” if reliable electricity can be provided to fuel economic growth and stability across the nation.

Vanguard

A.I

Oct. 28, 2024

Tags:


President Tinubu seeks confirmation of Lt. Gen. Oluyede as Chief of Army Staff

PRESIDENT Bola Tinubu has sent a letter to the Senate seeking confirmation of Lieutenant General Olufemi Olatubosun Oluyede’s appointment as...

Read More
HURIWA raises alarm over alleged plot to hijack Rivers case transferred special panel

THE Human Rights Writers Association of Nigeria, HURIWA, has raised serious concerns over recent developments in the legal handling of...

Read More
“Osun is proud of you”, Gov. Adeleke hails ‘Davido’ at 32

THE Osun State Governor, Sen. Ademola Adeleke, has congratulated his nephew and global music icon, David Adeleke, popularly known as...

Read More