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Power Crisis When Combined With Increased Fuel Price Remains Recipe For Poverty, Business Failure in Nigeria—Peter Obi

The presidential candidate of Labour Party, LP, Mr Peter Obi has lamented the negative impact of continued power outages in Nigeria.

His statement comes amid the power failure experienced by the Northern people.

Obi stated this in a post on X on Sunday, stressing that the negative impact of the recurring power outages on businesses, especially small businesses is unimaginable.

Peter Obi [Daily Post]

His post reads partly,”The continued power outages in many parts of the country, particularly in the Northern and Eastern States, as well as South-South states, have remained a cause of grievous concern.

“It is heartbreaking to see that the affected states, majorly in the Northern parts of Nigeria, have been facing a total blackout for several days now.

“This power crisis, when combined with the present high cost of petroleum products and a harsh operating environment, remains a lethal recipe for widespread business failure and increasing poverty in the country.

” I have consistently maintained that solving Nigeria’s power and energy crisis is not rocket science.

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“Our African neighbour, Egypt, for example, invested aggressively in their power sector, which resulted in the establishment of a sustainable power infrastructure by way of many power stations.

“Today, Egypt has revolutionized power and energy production in the country, providing sustainable power to millions of small businesses, which account for over 90% of active enterprises in the country and contributes to over 80 percent of their GDP.

“I call on the government to ramp up efforts and provide both immediate and long-term solutions to this seemingly perennial challenge.

“My sincere thoughts are with everyone enduring these tough times in our nation,” he added.

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