- Says lack of electricity is a constraint in terms of development.
- Gupta says electricity comes first before roads, highways and other segments of infrastructure in the country.
An expert on globalisation and emerging markets, Dr Anil Gupta, has said that Nigerian needs constant electricity to move forward.
He stated this when speaking at The Platform, a programme convened by Pastor Poju Oyemade of Covenant Christian Center. The expert, therefore, stressed that Electricity is the lungs of the economy of a nation and without it; it is difficult to record progress.
While noting that electricity is a major aspect of Nigeria’s infrastructure which needs to be considered by the government, Gupta added that roads, highways and other segments of infrastructure are important but electricity are ahead.
“If we look at the Industrial revolution that made America and Europe rich, starting from the early 19th century its really that the lungs which gives power to the body. It was steam engines first and electricity next.
“So, without the power, the lungs of the economy it is very difficult, it is impossible to march ahead,” he said.
While lamenting that the electricity being produced in Nigeria is very inadequate, the expert said that it is an obvious segment of infrastructure where the government has almost always has played a major role.
Reacting to available statistics and estimates, he said Nigeria will experience development if electricity is given proper and adequate attention.
According to Financial Times statistics, the Manufacturers Association of Nigeria spends 40% cost of production on power.
Gupta said, if this is not promptly curtailed by Nigeria’s government it will “act as a constraint in terms of development.”