Okolo
High expectations usually characterise budget preparations. Ahead of the 2011 budget, the National President of the Nigerian Chambers of Commerce, Industry, Mines and Agriculture, Dr. Chukwuemeka Okolo, highlights key areas of action by the Federal Government. He spoke to LAYI ADELOYE As the Federal Government gets ready for the 2011 budget, what are your suggestions on how to address some of the challenges of the real sector, especially power and energy?
The power road map unfolded recently by the President is commendable. This should, however, be accelerated. Government must focus on complete liberalisation of the power sector by allowing the private sector and states to participate in generation and distribution. The government should accelerate and ensure the completion of the ongoing power sector reforms so as to improve the present generating capacity by not less than 2,000 mega watts by December 2011. Adequate incentives should be provided to encourage more investment in independent power projects, even as more aggressive policy must be pursued by government to eliminate frequent vandalism of power infrastructure facilities in the country.
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