With all eyes on our Naira, Nigerians are not fully aware of another problem which we have now, the free fall of our Electricity which we measure in terms of Watts!
|A jibe on Naira and Watt from Guardian|
As at Feb 2, Nigeria was generating 5074 megawatts of electricity but that seems like years ago. On February 11, it dropped to 4,150.64MW and on February 14, it rested at 3,485MW. Perhaps that was Nigeria’s Valentine gift to her citizens
The only thing that seems to be against gravity in Nigeria is the electricity tariff which was supposed to increase by 45 percent but was opposed by the Nigeria Labour Congress .
The importance of power in any country can never be overstated, it attracts native and foreign investors. Industries needs power to operate, average citizens are overburdened by the high price of fuel (which is till N110 in many parts of Akoko, Ondo State).
With more industries comes development, if we have industries providing us foods, electronics and so on the Dollar problem won’t be an issue. Other currencies like Yen and the Japanese currency are not doing so well against the dollar but their economy is getting better. Why? They have industries providing them with their basic needs.
We are clamoring for Naira to improve but i think the free fall of our Megawatt is a bigger problem.