The Chairman of Heirs Holdings and United Bank of Africa, Tony Elumelu has declared that Nigeria’s development is impossible without access to reliable electricity supply.
Elumelu, who doubles as the Chairman of Transcorp Power, said this on Tuesday during the Banking and Finance Conference organized by the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja.
He noted that Nigeria cannot industrialize without ensuring that the country’s abundant natural resources are translated into plentiful and robust power for all.
“Development is impossible without reliable access to electricity.
“Nigeria cannot industrialize, our youth cannot be educated, without ensuring our abundant natural resources are translated into plentiful, robust power for all.
“A power ecosystem that encourages investment and unlocks our economy.
“To accelerate our progress, we must enable our power sector to guarantee reliable electricity for everyone,” he stated.
His comments come as Nigeria barely achieves 5,060.10megawatts of electricity generation for an estimated population of over 200 million.
The two-day conference tagged ‘Accelerated Economic Growth and Development: The State of Play and the Way Forward’, played host to bigwigs within Nigeria’s banking sector including Vice President Kashim Shettima, the Governor Abia State, Alex Otti and other personalities.
