World News

Nigeria lacks sufficient electricity to power a modern economy – US Center

392

The United States Center for Strategic and International Studies, CSIS, has called for a partnership with Nigeria to help build a robust modern power sector.

The report released Wednesday by the Washington based think-tank said that Nigeria lacks sufficient electricity to power a modern economy, and this deficiency is a fundamental barrier to its prosperity.

The Center in the report authored by Director for Africa Program, Judd Devermont and Todd Moss, said that ” If Nigeria still lacks a modern power system several decades from now, its people will be poor and intensely frustrated. Such a future would not only be a tragic waste of human capital and a missed opportunity but it would also make Nigeria a dangerous source of global threats.

” A government that cannot meet the basic needs of its population cannot be an effective partner for the United States, the report said.

” No economy can make the transition from poverty and low productivity to higher incomes and global competitiveness without high-energy systems. The lack of reliable and affordable power significantly constrains economic growth.

” The Nigerian economy needs to create about four million jobs per year just to keep pace with current population growth.  Without these jobs, Nigeria’s population will be frustrated, angry, and impoverished.

” Nigeria is currently consuming 80 percent less electricity than other countries at a similar income level. As the country grows in population and wealth, energy demand will only rise. By comparison, for Nigeria to rise to the average consumption level of today’s Tunisia or Egypt by 2045 would require the country to generate at least 60 gigawatts. That’s a 20-fold increase over Nigeria’s current capacity. Clearly, incremental changes won’t do it.

The Center said that currently Nigeria generates less than four gigawatts. That means the entire country of 200 million people has about the same electricity as a medium-sized American city such as Columbus, Ohio or Jacksonville, Florida. In addition to the supply shortages, Nigeria’s transmission network is decrepit and its utilities are largely bankrupt.

By 2045, Nigeria will be more populous than the United States, but the entire country currently produces less than one percent as much electricity, said the article in the center’s monthly publication.

” A low-energy future—in which a youth bulge meets an underpowered economy that cannot create jobs—would be a security nightmare for both Nigeria and the United States.

” Nigeria needs a high-energy grid system to power its factories and cities and to sustain a growing economy.

The United States should partner with Nigeria to build such a system, the Center said, ” an energy partnership would diversify the funding for Nigeria’s power sector by combining U.S. resources with capital from institutional investors and development finance institutions.

” The United States and Nigeria should negotiate an energy compact defining the project’s priorities and establishing performance metrics. For instance, the compact could set a goal of 30 gigawatts of installed capacity by 2030, sketch a road map for how to get there, and a supply a specific set of benchmarks that both partners must meet.

” If the United States works with Nigeria to help it build a reliable, modern power system, the country could become an economic engine for Africa. Instead of being a perennial trouble spot, Nigeria could become a stable and economically prosperous ally that works closely with the United States on a range of shared global threats. Although a successful energy sector is not a panacea for all of Nigeria’s problems, it would go a long way toward ensuring that millions of young Nigerians have the chance to contribute to an expanding economy in a country at peace with its neighbors and itself, said the Center.

 

 

Leave a comment

Related Articles

Nigeria-China trade volume exceeds $20bln in 2024 – Chinese Amb. Dunhai

The Chinese Ambassador to Nigeria, Yu Dunhai, has revealed that the trade...

Nigerian, Okezie Ogbata, pleads guilty to defrauding 400 Americans of $6m

A Nigerian national, Okezie Ogbata, has pleaded guilty in a Florida district...

Just in: Bloomberg pledges support for UN Climate Agency after US withdrawal

Billionaire entrepreneur Michael Bloomberg announced that his foundation will provide funding for...

Oil Prices Face Headwinds from Trump’s Tariff Threats

Oil prices were little changed on Thursday, maintaining the previous session’s losses...

Nigeria, Global Leaders Target $29 trn to Advance African Economy by 2050

In a significant push for economic growth, Nigeria’s Vice President Kashim Shettima...

Trump unveils $500bln AI Initiative “Stargate” to revolutionize US tech

In a historic move, President Donald Trump has launched a groundbreaking artificial...

Breaking: Reconsider your withdrawal, come for dialogue, WHO urges US

Few hours after US pulling out, the World Health Organisation(WHO) has expressed...

Trump purges predecessor’s appointees, threatens dismissals of thousand more

US President Donald Trump has fired four senior government officials appointed by...

14 key takeaways from Donald Trump’s inaugural speech as the 47th President of the United States:

1. The golden age begins now. The golden age of America begins...

1,500 Capitol Rioters Receive Unprecedented Pardon from Trump, Sparks Outrage

Just hours after taking office, US President Donald Trump granted pardons on...

Breaking: Trump pulls US from WHO, signs executive bill

US President Donald Trump has signed an executive order to withdraw the...

Pres. Trump reverses Biden’s Paris deal

Newly-inaugurated President Donald Trump has confirmed that he will withdraw the United...

Inaugural Speech of Donald J. Trump, 47th. President of America

Thank you. Thank you very much, everybody. Well, thank you very, very...

Breaking: Trump vows to halt illegal immigration

Donald Trump was inaugurated as the 47th President of the United States...

Breaking: Trump sworn in as 47th US President

In a dramatic return to power on Monday, Donald Trump took the...

TikTok restores service in US, thanks Trump

TikTok on Sunday restored service in the United States after it briefly...

BRICS welcomes Nigeria as partner country, fostering new era of international cooperation

Nigeria has officially become a partner country of the BRICS economic bloc,...

Ahead of Jan. 20 Presidential inauguration, Trump arrives in Washington

Few hours to his inauguration, President-elect Donald Trump landed in Washington on...

Just in: From Jan. 19, TikTok suspends app in U.S. as ban takes effect

TikTok On Sunday suspended its app in the United States (U.S.) as...

Israel, Hamas reach landmark agreement on Gaza ceasefire, release of hostages

After months of deadlock and more than 15 months of war, Israel...