Canice Erunke

Power sector reforms in nigeria: implications for agro-manufacturing industry

  • Authors Details :  
  • Dr,  
  • Erunke,  
  • Canice,  
  • Esidene

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Abstract The main objective of this paper is to examine the nexus between the reforms that have been carried out in Nigeria concerning the power sector, and the implications of the reforms on the transformation of agro-allied industries. The power sector, no doubt, can be said to have the potential that can propel national development considering the overall importance of energy to the survival of the nation in terms of job creation, industrial development and sustenance as well increase in revenue generation and Foreign Direct Investment opportunities, among others. The unfortunate situation, however, is that in spite of a number of policies enunciated by successive governments aimed at improving on the power sector, not much has been achieved. The multiplier effect of this kind of development has been seen in the widespread epileptic power shortages, downward spiral of efforts towards industrial development drive; unemployment, shortage of national revenue accruing to government coffers, bourgeoning and rising poverty levels, to mention but a few. All of these have further contributed to the growing army of problems currently being witnessed in the country at the moment. This study is a theoretical exposition of the existing works of scholars and experts in the broader field of power sector reforms. The paper is exploratory in structure and method of its investigation. The study concludes and recommends that in view of the prevailing socio-economic circumstances in Nigeria, genuine reforms in the energy sector devoid of political rhetorics will go a long way in mitigating some of the challenges of contemporary times in the power sector

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