The Minister of Power, Adebayo Adelabu, has made startling revelations, accusing cartels and cabals of obstructing efforts to achieve stable electricity supply in Nigeria.
Adelabu made these remarks on Thursday during the launch of a 63MVA, 132/33kV mobile substation in Ajah, Lagos State, under Phase 1 of the Presidential Power Initiative, a collaboration between FGN Power Company and Siemens Energy.
Addressing the issue of cartels impeding power sector growth, Adelabu urged them to abandon shortsightedness, emphasizing the abundant opportunities available in the sector.
“I know there are cartels and cabals in this sector who believe that stable electricity supply will negatively impact their business interests. But they are being myopic and shortsighted,” Adelabu asserted.
“There are numerous opportunities in the sector that can compensate for any perceived business losses. It’s a win-win situation.”
He dismissed the notion that stabilizing the power sector would render anyone jobless or affect business interests, emphasizing the dynamic nature of the business world and the vast potential for growth.
Adelabu’s comments raised questions about the potential involvement of these cartels in importing generators, to which he responded without specifying individuals.
“Whoever knows they belong to these cartels should reconsider their stance and join us in our transformation journey,” he urged.
The minister expressed frustration at Nigeria’s prolonged struggle to achieve its power sector goals despite numerous past initiatives.
“We’ve had over 40 ministers in the past, and we are still facing the same challenges. What is hindering us from realizing our plans for the sector?” he questioned.
