Nigeria Borrowed $3.23b In Four Years To Fix Power As Peter Obi Describes National Grid Collapse Recurring Decimal.

 


The presidential candidate of the Labour Party in the 2023 election has expressed his deep concern on the constant collapse of the national grid.


He State this over the recent news of another grid collapse in the second week of January 2025.


According to him, I have just read the reports of the collapse of our national grid, just 11 days into the new year. 


He said, "Most of last year, we faced recurrent national grid collapses. That occurred about 12 times in the year. 


"The untold setback and hardship it brought on households and businesses was immeasurable.


"Further reports showed that Nigeria has borrowed over $3.23 billion in the last four years to fix its electricity problems, and yet the country cannot  produce more than about 4,500 megawatts of power for the people. 


"Instead of making significant progress, our recurrent occurrences of grid collapse have continued to characterize our power sector. 


"One then wonders where all the funds borrowed for the power sector have gone into.


"The lack of sincere commitment by us, the leaders, to the true development of the nation, followed by the widespread corruption eating through every sector of our national existence, has continued to drive retrogression and backwardness in our nation.


"This is a new year, and again, I will appeal to the government to make it a fresh start by building on the lessons of yesteryear to now improve every aspect of the nation, including the power sector, without which households and small businesses will continue to struggle under immeasurable economic burdens. 


"A New Nigeria Remains POssible. -PO"


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