Business

Industrialisation Impossible With 2,200MW of Power –CVL VP

  • Industrialisation Impossible With 2,200MW of Power

The Senior Vice-President, Strategy and Development, Centre for Values in Leadership, Mr. Rasheed Adegbenro, has said that the 2,200 megawatts of electricity being generated currently is not sufficient for industrial revolution in the country.

Speaking on Tuesday, he said that industrial development was unrealistic with per capita consumption of 13 watts of electricity.

According to Adegbenro, who is a former Director-General of the Manufacturers Association of Nigeria, power is critical to the development of the country and its scarcity and absence of other infrastructure should be challenged.

He said, “We want to be industrialised and we have a minister of Industry, Trade and Investment launching a massive industrial revolution plan, on what? Is it on 13 watts per capita? It is not doable. There is no magic that can be performed. If you have television, refrigerator and air conditioner at home, you are consuming the energy of 100 people. There is no way we can run industrialisation on a per capita consumption of 13 watts.

“Population is not a challenge but our politicians see it as a challenge. Can security and infrastructure match population explosion? Can school education today match the population explosion of tomorrow? The social, physical and economic infrastructure in the country needs to be debated and put in the public domain.”

He noted that developing countries were already responding to the challenges of the population explosion with the introduction of smart cities, adding that Lagos and Enugu states had keyed into the global concern.

According to him, the 14th edition of the CVL Annual Lecture/International Leadership Symposium will examine these issues and others such as cities of the future, urban renewal, urban governance, promoting and developing well-planned and efficient cities around the world, and cities and living well together, among others.

Adegbenro said that a renowned scholar and professor of African economies at Oxford University, United Kingdom, Paul Collier, would speak on the challenge of Africa’s future cities as the keynote speaker.

According to him, a former Governor of Cross River State, Liyel Imoke, will chair the event themed: ‘Living Well Together, Tomorrow: The Challenge of Africa’s Future Cities’, while the Governor of Edo State, Mr. Godwin Obaseki, will be the chief guest of honour; and the chief host at the event is the Founder/CEO, CVL, Prof. Pat Utomi.

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Share
Published by
Samed Olukoya

Recent Posts

Dollar to Naira Black Market Exchange Rate Today, 22nd January 2025

The dollar to naira exchange rate continues to be a focal point in Nigeria's financial…

6 hours ago

Pounds to Naira Black Market Exchange Rate Today, 22nd January 2025

The pounds to naira exchange rate continues to be a critical topic in Nigeria’s financial…

6 hours ago

MTN Nigeria Secures NCC Approval to Renew and Harmonise 800MHz Spectrum Licences

MTN Nigeria Communications PLC has received approval from the Nigerian Communications Commission (NCC) to renew…

11 hours ago

CAC Strengthens Compliance and Enforcement Responsibilities, Targets Business Formalization

The Corporate Affairs Commission (CAC) has outlined plans to enhance its compliance and enforcement responsibilities,…

12 hours ago

Nigeria Could Generate Over $2 Billion from Carbon Market by 2030 – UNN

The University of Nigeria, Nsukka (UNN), has projected that Nigeria could earn over $2 billion…

12 hours ago

Trump Restricts Citizenship Rights for Babies of Undocumented Parents

President Donald Trump has signed an executive order titled “Protecting the Meaning and Value of…

17 hours ago