LCCI’s power sector dialogue highlights issues affecting the cost and ease of doing business

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LCCI head quarters in Lagos

 

The president of LCCI, Dr Nike Akande

FRI, SEPTEMBER 29 2017-theG&BJournal-The Lagos Chamber of Commerce and Industry, (LCCI) power sector dialogue session yesterday, brought to fore the critical issues affecting the cost and ease of doing business in Nigeria.

The president of LCCI, Dr Nike Akande during the occasion noted that issues around getting electricity were of utmost interest amongst participants.

Few months ago, LCCI, as part of its advocacy mandate on improving the business environment, organized a Focus Group Discussion on ease of doing business in Nigeria. At the meeting were government officials, regulatory agencies and the business community.

According to Dr Akande, the report generated from the discussions forms part of the reasons why this dialogue session is being organized.

“We intend to take the issues further with update on recent reforms and expectations for the future of power supply in Nigeria,’’ she said.

Dr Akande told the gathering that power supply remains at the heart of doing business in Nigeria. Currently, statistics show that the country generates about 6,700 megawatts of electricity, and out of it, 2000 is wasted daily because of problems associated with transmission and distribution.

‘’There is urgent need to reduce power losses across the value chain. We are optimistic that this can be achieved given a more enabling investment and regulatory environment in the power sector.’’

She said sustained and improved power supply is critical to the sustainable growth of the economy. “We look forward to an improved ranking of Nigeria in the next edition of World Bank ease of Doing Business Report. Getting Electricity is one of the indicators for the ranking and we wish to reiterate our call on government to sustain the current reforms towards resolving the lingering issues in the power sector.”

The Honourable Minister of Power, Works and Housing, Mr. Babatunde Raji Fashola, SAN and members of the organised private sector graced the occasion.

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