“The $10 billion invested in the (power) sector between 2000 and 2007 has not translated into power generation, transmission and distribution—President Yar’Adua, January 14, 2008 during meeting with Mrs. Oby Ezekwesili, World Bank vice- president (African Region).” – Dele Sobowale, Vanguard.
I chuckled when I read this article. The reason is simple, In 2006, this blog posted an article titled “Nigerian Electric Power Sector: The $9 Billion Mess“. This is two years ago. The content of the Vanguard article speaks volumes to what was published two years earlier, here on Grandiose Parlor, an excerpt:
“It is puzzling that a nation that seems so reform-crazy, so eager to liberalize its economy, and whose worn and hoarse head of state have spent more time overseas, repeatedly giving sales pitch to foreign investors, has failed to implement any measurable reforms in the power sector. Yet, adequate and regular power supply is the number one prerequisite for industrial and economic growth; it is the catalyst that impacts both big and small businesses…wonder if there isn’t more going on at the power and steel ministry than meets the eye; an accounting audit may not be entirely out of place in my opinion.”
It is 2008, after spending $10 billion that supposedly went through the “due process”, power generation is still a little less than 3000MW in Nigeria, about the same level it was in 1999.
A perfect example of corruption and mismanagement
January 30, 2008 at 8:30 am
Have you seen the latest ThisDay article about the problems with the $450 million Tinapa Business and Leisure Resort in Cross Rivers State? The government of Dubai is setting up rival business and leisure developments in Senegal and Ghana to compete with Tinapa? What the heck is going on in the Nigerian government and business community to allow this huge project to founder?
Here is the headline and URL for the story at allAfrica.com:
Nigeria: Country Loses 219b Yearly on Tinapa by Ernest Chinow (Feb 8, 2007):
http://allafrica.com/stories/200802090011.html
February 10, 2008 at 11:53 am
Thanks for the link, BRE. The TINAPA concept is a sad reminder of why government-initiated ventures never do well. I will digest the article and react accordingly.
February 11, 2008 at 12:48 am
Very nice write up. I am a Nigerian as you are and I am impressed by your blog. I am writing to extend an invitation to you: Please visit my blog, post a comment and send the information to everyone you know. It is important for all of us as Nigerians to come together as one to help our country get better.
Naijaunited.blogspot.com
February 13, 2008 at 10:51 pm