Before We Perish

Not too long ago, the National Electricity Regulating Commission (NERC) revealed that Nigerians spend about N796.4 billion yearly on fuelling their electric generators to provide themselves with electric power (light).
The figure strikingly represents federal government’s budget of N796.7 billion for the capital expenditure for 2009 fiscal year for 36 states of the federation.
A breakdown of the statistics released by (NERC) shows that N540.9 billion is spent on diesel for diesel and on petrol for petrol powered engines annually.
Investigations further revealed that industries under the auspices of Manufacturers Association of Nigeria (MAN) spend over N350 billion to fuel their diesel engines to facilitate production of goods and services.
Similarly, federal government budgeted N2 billion to buy, maintain and fuel generators this year, a development which was heavily criticised and later dropped, perhaps due to government’s policy thrust on delivery of 6,000 megawatts by December, 2009.
Though the figures released so far are yet to be challenged by government, it is believed that Nigerians spend even more on maintenance of diesel and petrol-powered generating sets than fuelling alone.
The expenditure pattern in fuelling and maintaining small and big generating engines for residential and commercial entities in Nigeria is better imagined and experienced. The development is caused by a shortfall in meeting the nation’’s demand for electricity.
The Power Holding Company of Nigeria (PHCN) reportedly generates only 20 per cent of national electric requirement which represents between 2,000 mw and 2,500 mw.
But as part of government’s determination to meet national demand for electricity, the Yar’Adua-led administration vowed to deliver 6,000mw by December, 2009, in addition to the 2,500mw already in the national grid.
Experts however believe that Nigeria requires about 15,000 mw for power to be stable, regular and efficient so as to meet domestic, commercial and industrial demands.
South Africa, a country with less population the Nigeria has over 40,000mw and also generates electricity through other sources other than hydro and thermal sourced electricity.
Therefore, the authorities must as a matter of national emergency, source other means of generating power through solar and nuclear means.
Diversification of public power supply sources therefore is a necessary imperative staring our leadership on the face. Apart from the critical role of the private sector in the 29 Independent Power Producers (IPPs), the country must move from the present level of public power supply to the next level.
Our energy base is woefully very low and is constituting a material embarrassment to the past and present generations of Nigerian leaders.
Investors find it extremely difficult to invest in Nigeria due to cost of generating electricity for their investment. We cannot afford to continue this way.
The country cannot meet up with her Millennium Development Goals (MDGs) on energy and other critical sectors of the economy with the current energy base.
Moreso, Nigeria can never realise her Vision 20:2020 if we remain where we are currently. The Asian Tigers who are competing favourably with Western countries ensured that their energy source is realiable and regular before they got to where they are today.
Thus, the only way and viable option forward is to secure our energy base.
No better options!