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Former President Olusegun Obasanjo, on Wednesday, said some of the reasons why all Nigerian leaders after his administration were unable to increase power generation from where he left it 10 years ago.
He also said Lagos would become Africa’s third largest economy before in his lifetime, noting that the state government was already making it an economic hub.
Speaking in Lagos at the launch of a book, “Making Africa Work,” which he co-authored with Director of Brenthurst Foundation, Dr. Greg Mills; President of NEWSEUM, Dr. Jeffrey Herbst and Major General Dickie Davis (retd), Obasanjo said lack of good leadership, continuity in governance and financial constraints were responsible for the diminishing status of power generation in the country.
Obasanjo explained that his administration came up with an agenda called ‘NEEDS,’ which is National Economic Empowerment Strategy, to deal with power and other problems confronting the nation.
He expressed surprised over last administration's aim to generate 30,000 megawatts of electricity but did not even generate up to 3,750 megawatts while he left 4,000 megawatts.
Obasanjo regretted that even when power had been privatised, there was still no money to improve it, saying: “As far as funding is concerned, there is funding out there but it can only come when environment is conducive.
Obasanjo also said Lagos would be Africa’s third largest economy before he dies, adding that the necessary structures were already being put in place to achieve that. “Even though people said I look like someone who is in the departure lounge, Lagos will become the third largest economy before I take my boarding pass,” he said.
He also said Lagos would become Africa’s third largest economy before in his lifetime, noting that the state government was already making it an economic hub.
Speaking in Lagos at the launch of a book, “Making Africa Work,” which he co-authored with Director of Brenthurst Foundation, Dr. Greg Mills; President of NEWSEUM, Dr. Jeffrey Herbst and Major General Dickie Davis (retd), Obasanjo said lack of good leadership, continuity in governance and financial constraints were responsible for the diminishing status of power generation in the country.
Obasanjo explained that his administration came up with an agenda called ‘NEEDS,’ which is National Economic Empowerment Strategy, to deal with power and other problems confronting the nation.
He expressed surprised over last administration's aim to generate 30,000 megawatts of electricity but did not even generate up to 3,750 megawatts while he left 4,000 megawatts.
Obasanjo regretted that even when power had been privatised, there was still no money to improve it, saying: “As far as funding is concerned, there is funding out there but it can only come when environment is conducive.
Obasanjo also said Lagos would be Africa’s third largest economy before he dies, adding that the necessary structures were already being put in place to achieve that. “Even though people said I look like someone who is in the departure lounge, Lagos will become the third largest economy before I take my boarding pass,” he said.
