Connect with us

Business

We’ll Ensure Electricity in Major Markets – Osinbajo

Published

on

foreign exchange market
  • We’ll Ensure Electricity in Major Markets – Osinbajo

The Vice President, Prof. Yemi Osinbajo, has said the administration of Muhammadu Buhari is making efforts to ensure better living for market men and women in the country.

He specifically said the current administration was aiming at making electricity available in all major markets for the benefit of the traders.

Osinbajo stated this at the commencement of a pilot Federal Government project of Special Intervention in Energising Markets as Productive Clusters at Isinkan Market in Akure, Ondo State.

The project being powered by the National Rural Electrification Agency and the Ondo State Government’s Office of Public Utilities was said to be targeting power supply to all markets across the state.

According to the VP, the project is being put in place by the Federal Government to ensure power supply in all public markets with a view to boosting Micro, Small and Medium Enterprises in the country.

He said, “We are focusing on major markets across the country to put an end to the power problem. We are working at Ariria Market in Aba, as well as Sabongeri Market in Kano and we focusing on markets in Lagos as well. We can see how excited the market women are, judging by their testimonies.”

Osinbajo also said, “This technology is new and it is remotely monitored from the headquarters of the service providers. If anyone attempts to tamper with the meter, it would be detected from the monitoring centre immediately and necessary action would be taken.”

The Vice President assured the market men and women that the project would be extended to all other major markets in the country.

In his remarks, the Special Adviser to Governor Rotimi Akeredolu on Public Utilities, Mr. Tunji Ariyomo, explained that the governor was working in conjunction with the Federal Government to ensure power problem was resolved in all public markets in the state.

He said, “The governor is concerned about the plights of the market women in terms of poor power supply. He is working with the Federal Government through its agency to power all our markets in Ondo State.

“This would enable the people to run their businesses smoothly and make more profits which would invariably allow them to create more jobs and shore up the Internally Generated Revenue of the state government.”

At the event, a five-man team, comprising market women, state government representatives and a representative of the federal agency, was also inaugurated by the Director-General, National Rural Electrification Agency, Mrs. Damilola Ogunbiyi, to ensure the safety of the gadgets.

The solar power used as pilot project is 3kw capacity meant to serve 14 lock-up shops in Block I of Isinkan Market, Akure. A total of 8,750 shops across Oja Oba, NEPA and Isolo markets in Akure have been slated to be beneficiaries of the intervention.

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.

Advertisement
Advertisement