George Onafowokan, the Managing Director of Coleman Wires and Cables Industries Limited, has urged the Nigerian government to focus on local solutions to address the ongoing problems with the country’s electricity grid, which frequently collapses.
In a statement, Onafowokan expressed his concerns about the regular power outages and the government’s efforts to attract investments into the power sector. He emphasized that the industry needs to be fully deregulated and modernized. This means that the rules governing the industry should be relaxed to allow for more competition, and that outdated equipment, such as wires and cables, should be replaced. He believes that Nigeria has the capacity to produce the materials needed for power projects right here in the country, rather than relying on imports.
He acknowledged that products made in Nigeria might be more expensive because of higher production costs. However, he argued that if the right investments are made, these local industries can thrive under policies driven by the private sector.
Onafowokan praised the current government for its renewed focus on improving the power sector but warned that fixing the electricity problems will take time and consistent effort. He pointed out that these issues have been around for many years, and he understands that the government inherited these challenges. He reminded everyone that solving the electricity crisis is not something that can be done quickly. He noted that after Nigeria returned to democracy, there was a good start, but complacency set in after a few years.
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He identified the ongoing grid failures and poor power supply as a result of a mismatch between electricity generation and transmission. Onafowokan cautioned that simply providing more funding will not solve the problems in the sector. He stated, “The billions allocated to the sector won’t make a difference without proper implementation of policies,” meaning that just giving money isn’t enough; the government needs to ensure that the right strategies are followed.
Regarding the recent increase in electricity tariffs, he highlighted the important role that manufacturers play in creating jobs and stabilizing the economy. He urged the government to adopt policies that support local businesses, which are essential for economic growth.
Recently, the Manufacturers Association of Nigeria (MAN) has been vocal about the need to lower electricity tariffs. They have been advocating for a reduction in the recently increased rates, which have gone up by as much as 250 percent. The president of MAN, Francis Meshioye, stated that the association will continue to push for lower tariffs to help its members and the manufacturing sector as a whole.
