Inadequate power is the major obstacle to full economic development in Nigeria and it has remained a concern to many Nigerians.

Businesses have shutdown, companies have ran out of the nation to other African countries where power is more stable and job losses have continued to increase amidst high unemployment rate.

Electricity companies have continued to rip Nigerians off with their estimated billing system, forcing many to pay for darkness. 

But the Akwa Ibom State government is doing something to change all that and believes it can give power to Nigerians.

The government of the state has, through private partnership, established an Electric Metering Factory to address meters shortfall.

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It was inaugurated on Saturday, as part of the activities marking the 30th anniversary of Akwa Ibom creation.

The factory produces 2.7 million units of meters annually and Governor Udom Emmanuel believes that capacity can be doubled to produce 5.4 million.

“The essence of this industry is to ensure power for all. Once you can buy recharge cards, you can have electricity, it is available for all.

“The project is a private initiative for the betterment of all Akwa Ibom people and for Nigeria at large,” Governor Emmanuel said.

Vice President Yemi Osinbajo was at the inauguration and he highlighted that poor power supply was a major set back affecting the nation's economy.

He told the gathering that the problem of irregular power supply in Nigeria was caused by inaccurate billing system resulting from insufficient metering machines.

Professor Osinbajo was at the Onna local government area of Akwa Ibom to inaugurate an Electric Metering Factory as part of activities marking the 30th anniversary of Akwa Ibom creation.

He believes Nigeria’s economic development is hinged on effective power supply, but he decried a situation where Distribution Companies (DISCOs) are not been able to collect tariffs because of non-availability of meters.

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“The electric metering factory is an important project. Inadequate power is the major obstacle to full economic development in Nigeria.

“We have also identified the fact that DISCO is unable to collect tariffs effectively from consumers because we are unable to afford the cost of metering.

“I think that there is an important policy innovation as there is no restriction on those who can actually produce meter for our consumers,” Osinbajo said.

He commended the Akwa Ibom governor for establishing the metering factory, saying that the Federal Government was looking forward to other factories across the country.