Lack Of Electricity Not Reason For Poor Economy – Fashola
If the economy is not growing, it's not because Nigeria cannot keep the lights on, says Babatunde Fashola who is Nigeria’s Minister of Power.
According to Fashola, experts who attribute the slow growth of Nigeria’s economy to power supply challenges make such arguments without facts and are not correct.
This comes as he directed power distribution companies to find ways of collecting the outstanding debts owed them by public sector organisations from state governments, adding that the Federal Government has verified and given approval for the payment of its own portion of the claims.
Fashola said, “We hear all our so-called experts who say (non-availability of) power is why the economy of Nigeria is not growing. That is not factual and it is not correct.
“At the time when we had less power in 2013 and 2014, the economy of this country was growing at 7% per annum.
“We had less power then than we have now, but the economy was growing. So that is not an honest statement to make. It is not an honest statement at all.
“That is not the reason. Power will clearly contribute to the growth but power is not the reason why the economy is not growing.”
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