Reliable Stable Energy Supply Will Bring Down High Cost of Building Materials to Good Percentage
Nigeria, often referred to as the giant of Africa, grapples with a myriad of challenges that hinder its progress and development. While debates persist about the primary issues afflicting the nation, ranging from economic structure to resource management and leadership concerns, this editorial posits that the fundamental challenge lies in the inefficient energy power sector.
The contention is that Nigeria’s ongoing struggles can be attributed significantly to the inadequacies within its energy infrastructure, exacerbated by bad mindset among those in positions of authority. Failure to address this critical issue promptly may perpetuate Nigeria’s status as a subject of ridicule among the international community.
Why emphasize the significance of electricity power supply and management as Nigeria’s primary concern?
1. Biblical Perspective: Drawing a parallel from the biblical narrative in Genesis chapter one, where God’s creative process commenced with the advent of light, underscores the pivotal role of light and energy in any developmental undertaking.
2. Job Creation: A robust and efficient energy sector can act as a catalyst for job {here is jobs or job please your answer is needed} creation, particularly fostering the growth of Small and Medium Enterprises (SMEs). This, in turn, contributes to economic development and stability.
3. Mitigating Mass Migration: Adequate power supply has the potential to reduce the phenomenon of mass migration, often referred to as the “Japa syndrome”. A stable and thriving economy at home can dissuade citizens from seeking better opportunities abroad.
4. Attracting Foreign Investment: Reliable energy infrastructure is a key factor in attracting direct foreign investment. Investors are more likely to engage in a market with a stable and efficient power supply, leading to economic growth and diversification.
5. Reducing Production Costs: Access to affordable and consistent energy reduces the overall cost of production for businesses, making Nigerian products more competitive in the global market.
A reliable stable energy supply will bring down the high cost of building materials to a good percentage to enable real estate developers and real estate industry in Nigeria to close the gap housing deficit in Nigeria in a short period, and building manufacturing companies will produce large quantities of building materials to take care of the housing deficit in Nigeria, Dangote and other companies will be able to produce large quantities of their products into the system of real estate industry and other sectors.
6. Lowering Cost of Living: A well-functioning energy sector can contribute to a lower cost of living for citizens, positively impacting their quality of life.
7. A reliable stable energy supply will bring down the high cost of food and encourage farmers and agriculture sectors to produce and supply more food to take care of the food scarcity in Nigeria.
8. Addressing Insecurity: Adequate power supply can play a role in reducing insecurity, as economic stability and job creation often correlate with decreased social unrest.
9. Boosting Production and Export: A reliable energy supply enhances production capabilities, leading to increased export potential and a stronger presence in the international trade arena.
10. Strengthening the National Currency: A robust economy supported by an efficient energy sector contributes to a stronger national currency, further enhancing Nigeria’s economic stability.