Osibodu says Nigeria’s power supply won’t improve in the next 5 years

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Osibodu says Nigeria’s power supply won’t improve in the next 5 years

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By Idris Olumuyiwa.The Managing Director of the Benin Electricity Distribution Company, Mrs Olufunke Osibodu, has declared that there will be no improvement in the power sector in the next five years.
Managing Director of the Benin Electricity Distribution Company

Managing Director of the Benin Electricity Distribution Company

Osibodu made the declaration over the weekend at the 11th Annual Founder’s Day event of the American University of Nigeria in Yola, Adamawa State.This is coming at a time the Minister of Power, Works and Housing, Babatunde Fashola assured Nigerians of improved power supply.But speaking at the event, the DISCO MD said at least N250bn is needed annually to fix the country’s electricity sector.She said, “We Nigerians need to understand that we cannot do it overnight, and in addition we have to pay for it.“We need to be ready as citizens also, to accept and live with the pain that we have to go through, and allow time as our friends.“As Nigerians, often we are the ones that deceive our politicians. The politicians believe that the only way to go is to promise everything immediately possible. Promise that everything is possible today so that they can get elected. But when you see that it is not, so we want to give them time and use time as our friends.“It is the same story for the power industry. When I tell my friends, that forget any improvement for the next five years, they are scared, but that is the truth. We need minimum of five years to invest before we see results.“But very often, because Nigerians are impatient, we start pushing our governments and they start reversing good things they have done in various ways. So we need to be more patient.”

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