The federal government has been urged to focus on local solutions to address the country’s recurring grid collapses.
Mr. George Onafowokan, Managing Director of Coleman Wires and Cables Industries Limited, offered this advice in response to the ongoing grid failures and the government’s recent announcement of investment opportunities in the power sector.
Onafowokan emphasized the need to industrialize the power sector and called for the deregulation of the industry. While acknowledging that locally manufactured products might be more costly due to high production expenses, he stressed that achieving the right investments relies on private-sector-driven policies.
“There is a critical need for industrialization within the sector. Outdated wires and cables must be replaced, and all materials for transmission and power projects should be sourced locally. Our country has more than enough capacity to meet and even exceed its energy demands,” he stated.
He also expressed sympathy for the current government, noting that the challenges in the power sector have been ongoing for years and were inherited by the current administration.
“Addressing electricity issues is not a quick fix. After the return to democracy, we started off well, but after eight years, complacency set in,” Onafowokan added.
