dubious awards of contract by past Govt cause deteriorating electricity supply

dubious awards of contract by past Govt cause deteriorating electricity supply - Osinbajo

Vice President Yemi Osinbajo has blamed the deteriorating and epileptic power supply in the country on large-scale corrupt practices and dubious awards of contract in the power sector by past administrations.

Speaking at 10th anniversary lecture of Crescent University, Abeokuta, on Saturday, June 3, he implied that the Buhari administration would be taking some tough decisions to put the country back on the path of genuine growth and development

According to records, Osinbajo said for several years, series of contracts were awarded in the power sector and are still ongoing without concrete progress.

He said, “Though Nigeria needs more than 10,000MW to stabilise economic growth, the present capacity of power transmission lines cannot distribute more than 5,000 MW since the improvement works on transmission lines have been stagnant over years and should be improved upon if Nigeria must achieve tangible output from the sector.

“Unfaithful to awards of contract and execution of contracts being awarded are the major challenges. Several contracts in that regards have been awarded several years back, but have not been completed.

“What is being produced now is less than 3,000 MW. Our transmission grid today can only transmit 5,000 MW and we need to improve on transmission capacity to transmit enough power needed to stabilise economy. That is why the private investors have to increase capital investment in power sector.

“Insurgency and instability of government is a major setback especially in the agricultural sector. Agriculture contributes 24% to Nigeria GDP but the 24% is under threat because of the insurgency in the North East”.

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