Energy: Expert urges in-coming Govt to allow complete private sector participation

Written by on April 20, 2023

A  Private Estate Developer and President Domak Group, Dr Kinsley Azonobi, has urged the incoming government to allow private investors’ full operation of the power sector in order to boost effectiveness and enhance economic growth.

Azonobi made the call while addressing newsmen after his presentation at the ongoing Nigeria International Energy Summit (NIES) in Abuja.

Newsmen also reports that the NIES previously known as Nigeria International Petroleum Summit (NIPS) is an international and African petroleum technology and business conference.

He commended President Muhammadu Buhari for coming with the policy of allowing states to generate and distribute energy .

“So what I am advocating for is that the new government should look into how the private sector can participate in energy generation and distribution.

”So like me as a business person, I am into real estate. I should be given the permission to generate either solar, wind or bio energy in my own capacity and use it without being restricted by the law,” he said.

Azonobi also called on the federal government to invest in youths for sustainable development.

He said that the need to empower youth was strategic because they make up 65 to70 per cent of the nation’s population.

According to him today’s youths are very intelligent and informed, so when they see something that is genuine and is real and helpful to them, they don’t waste time they get involved.

“We hundreds of millions of youths. What are we doing for them? What are we planning for the generation .

“The United Nations said that by 2030, Nigeria will be the largest nation in the whole world, not only in Africa, I mean, third largest nation in the whole world,” he said.

Azonobi called on the government to put policies in place for youth development and national sustainability.

according to reports that the power sector was privatised in November 2013, with six power generation plants and 11 electricity distribution companies handed over to the private sector.

The federal government, however, retained control of the Transmission Company of Nigeria.

The sector was unbundled and partially privatised to establish a competitive market intended to improve management and efficiency, attract private investment, increase generation, and provide reliable and cost-efficient power supply.



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