At the Convocation of the University of Lagos, Vice President Yemi Osinbajo revealed that the Federal Government has achieved significant success in the power sector by increasing power generation from 4,000 megawatts to 8,100MW over the past three years
Osinbajo delivered a lecture titled: Nigeria rising: The path to prosperity, during the University of Lagos, UNILAG, 50th Convocation Lecture.
However, Osinbajo expressed concern over the impact of the increased power supply on Nigerians. He attributed this to distribution challenges experienced by the DISCOS largely because of problems they experience in collection of tariff.
Osinbajo also revealed that plans were in motion to bring in private metering assets providers under a scheme known as the Metering Assets Programme. According to Osinbajo;
In addition, the Federal Government has, in the past 18 months, taken on the deficiencies in transmission head on through the TCN and the NDPHC we are completing transmission projects all around the country.
But the more important strategy is to decentralize power production. So, we have adopted an off grid programme; which means that we are encouraging private investors to collaborate with government to build IPPs and supply power to willing buyers. This was made possible by what is called an eligible customer declaration by the Ministry of Power, Works and Housing. By this collaboration, we have been providing power, especially Solar Power to economic clusters such as markets across the country, including Ariaria market in Aba, 31993 shops, Sabongari market in Kano 13,598 shops, Sura market in Lagos 1047. Isikan 493, NEPA 256, Gbagi 8778, UMBC 2178, a total of 81691shops servicing 320000 SMEs. In Lagos we recently commissioned the Sura market solar project; the businesses there now have 24 hour power. From printers, commercial tailors to small chop businesses, everyone is employing more and making more profit.
Osinbajo also pointed out the plan for the next 4 years, while also suggesting that “prosperity would be attained if we are able to address the issues of extreme poverty, productivity, corruption, rule of law, deficiencies in the quality of human resources caused by poor education and health care.”