Power: Government is on right track
At its inception on May 29, 2015, the government of the All Progressives Congress (APC) led by President Muhammadu Buhari, listed three major areas in which it hoped to make immediate and lasting impact. These are power, security and the economy. Anyone conversant with the state of the nation at the time would appreciate the reason for the choice.
Power had remained a pounding Nigerian headache for decades, its inadequacy ensuring chronic economic underperformance nationwide, not to mention the distress it caused most of the citizens. You couldn’t fix Nigeria without fixing power.
As for security, the Boko Haram menace concentrated in the northeast but occasionally spilling into Abuja, and created a climate of fear. This also impaired economic activities by the citizens and, like the problem of power, undermined the faith of foreign investors in the country. Who would be eager to do business in a country characterised by violence and insecurity?
And of course the economy was in dire straits due to the decline in the price of oil, the country’s main source of revenue.
In all, Nigeria was faced with a gorgon of systemic dysfunction with multiple snakes for hair, and the biggest of the snakes were power, security and the economy. And something like mythical power would have been needed to scotch the snakes, let alone slay the monster, in the first two years of any government.
Having been involved in the power sector for 32 years, since 1985, I appreciate the complications inherent in trying to tackle its many man-made and systemic problems from which various unpatriotic and other perverse interests profit at the country’s expense.
So I understand the feeling of disappointment when our new governments and their Ministers of Power rush to confront the problems in the sector with gusto borne out of a genuine commitment to change only to realise that their effort is like trying to bring down an elephant with a catapult.
As for the APC government, needless to say that, two years at the helm, it is still battling the power behemoth, trying now to slay it not with an obviously ineffective catapult but with an arsenal of projects and programmes whose proper implementation may truly exterminate the monster and consequently lead to a sustainable improvement in the country’s power situation.
For instance, in implementing the power sector reform, liquidity issues led to inconsistency in paying for gas supply to generating companies. This has created hiccups in power generation, undermining power availability for economic production and other purposes nationwide.
But, faced with the scarcity of hard currencies due to the decline in oil prices, the government’s launch of the N701 billion payment assurance programme is arguably a good, creative intervention intended to resolve such liquidity issues by ensuring payment in Naira to gas and generating companies, while it undertakes the reform and strengthening of the distribution companies.