Entrepreneur urges FG to review power privatisation policy

Yakub Gobir, an entrepreneur, has called on the Federal Government to review the privatisation policy in the power sector.

He made the call on Tuesday in Ilorin while speaking with the newsmen.

Gobir said that the government decision to hand over the sector to private individuals was not sustainable.

According to him, most of the electricity generating companies are indebted to banks and thus cannot guarantee their effectiveness in providing stable electricity in the country.

He identified stable electricity and quality infrastructure as major ingredients to stimulate economic growth in the country.

Gobir explained that Nigeria was undergoing a very critical time, adding that the situation had become very challenging for entrepreneurs as well as investors willing to invest in the country.

The Gobir stated that the scarcity of forex at official rate had made it difficult to run business profitably.

He warned that the ongoing efforts to revive the moribund economy would be futile if the power sector as well as infrastructure were not critically addressed.

The Lagos-based business mogul also cautioned the government against adoption of austerity measures in the present economic situation, pointing out that such was not the best considering the social implication.

He pleaded with the government to make palliative measures available for Nigerians in order to cushion the hardship the current circumstance had imposed on them.

Gobir harped on the need to revive the industries that had gone comatose in order to provide more jobs for the teeming populace.

 “We are at a very critical time in the history of this nation. This is the worst economic recession we have experienced in recent times.

 “It is a very challenging time for entrepreneurs in this country. Another thing is that the scarcity of forex had made it difficult to run business profitably.

 “It is not possible to look at the economic solution without social implication.

“The two are like siamese twins that cannot leave each other. Then austerity is not best for Nigeria considering the social implication.

 “We need to appeal to the government to put in place first aid so as to relieve the people of the economic problems. We also need to ensure food security for Nigerians,’’ Gobir said.

He also called for injection of funds into the economy, particularly from the recovered loots in a bid to stimulate economic growth.

Gobir, who also noted that the war against corruption was fundamental to economic recovery, urged the government to strengthen the judiciary, the rule of law and the anti-graft institutions.