The Federal Government yesterday said it is incapable of funding the huge financial demands of Nigeria’s power demand, saying that the poor state of agriculture can be traced to poor electricity supply.

Speaking in Abuja, while declaring open the 19th Nigerian Economic Summit (NES), President Goodluck Ebele Jonathan, said there is no way issues of agric sector development would be discussed without reference to availability of regular electricity.

He said the provision of electricity in the country had been poor over the years, because it was left for government to shoulder alone, a task that is impossible.

Jonathan therefore, called on the private sector to invest in the power sector for better results, adding that government needed to fast track the ongoing power sector privatisation process to reduce problems of epileptic power supply.

According to him, the government had almost concluded the privatization of electricity distribution and generation companies, assuring that government, and some investors, would take care of the transmission aspect of power generation.

The President also announced a headed by the Finance Minister and Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala to undertake comprehensive review of farmers’ access to finance, to ensure that farmers obtain loans from financial institutions at low interest rate.

Acknowledging the difficulties Nigerian farmers encounter in accessing agricultural loans or facilities, he assured that the committee drawn from both the public and private sector, would succeed in the task, lamenting the predominance of the oil sector over the years.

However, the President assured that his administration would use agriculture “as a spring board for Nigeria’s industrialisation.”

To achieve this, he said the administration had taken a value chain approach in the development of the sector, adding Nigerian farmers would be supported to feed the nation.

He reiterated the unwavering commitment of his administration to ensure that Nigeria becomes self-sufficient in rice production by 2015.

http://www.dailyindependentnig.com/2013/09/fg-cannot-fund-power-alone-jonathan/

Old news.and who says the govt cant do it?wat of the billions dat have been spent? Corruption tins.

He knew that but never said such when he was promising heaven and earth in 2011 coward

I hope Alfa Belgore is not right..

FG can't fund power sector? WHY?
So there will be enough money to divert by the presidency & senators bah?
I think Belgore is right.

ik4life: He knew that but never said such when he was promising heaven and earth in 2011 coward

He said that since 2010 when he launched d now succeeding Power Reform and Privatisation Programme, mulll. You were probably in diapers when he said that though...

By d way, this is no news. FG can't fund d Electricity sector itself. Hence, d Privatisation Programme..

Of course a clueless and incompetent government cannot fund the power sector and Education, Why? Because clueless people are allowed to rule this country. Belgore, you were right after all!

berem: Of course a clueless and incompetent government cannot fund the power sector and Education, Why? Because clueless people are allowed to rule this country. Belgore, you were right after all!

You like GEJ too much, talk truth?When you are even doing 'it' with ya hubby, na im name you dey shout, talk truth? .... Madam dey look for people like you o