\nThere is dire need for the federal government to break the monopoly of power by the Power Holding Company of Nigeria (PHCN), the Chairman Manufacturers Association of Nigeria (MAN) in charge of Cross River and Akwa Ibom States, Elder Iniobong Jackson has advocated.<\/p>\n
He said once government breaks this monopoly and private industrialists are allowed to source for independent power, the manufacturing sector would witness a boost.<\/p>\n
He attributed the underdevelopment of Nigeria\u2019s industrial sector to poor power supply, saying that independent power producers should be encouraged and licensed to provide power for industries.<\/p>\n
In a chat with Sunday Trust, Jackson said that the epileptic power supply in the country has been a very serious factor militating against industrial development.<\/p>\n
\u201cIt is no longer fashionable for PHCN to monopolise power. It has failed to provide the commodity such that Nigerian industries require. This has adversely affected industries that rely completely on them for power supply,\u201d Jackson said.<\/p>\n
The MAN boss wants government to ensure that the policy on gas improves, using whatever method, so that our industries can survive, reasoning that the industrial sector can receive a major boost if independent power producers are authorised to supply electricity to industries.<\/p>\n
This, he argues, can stimulate healthy competition amongst them which will give rise to steady power supply.<\/p>\n
He specifically mentioned the Ibom power plant in Akwa Ibom State as one of the independent power sources that can boost the power needs of industries if given the authority by government to distribute power.<\/p>\n
He said that revolutionalizing the power sector is a sure route to the realization and achievement of vision 20.20.20 maintaining that it will also serve as a means of attracting direct foreign investments into the country.<\/p>\n<\/div>\n<\/p>\n
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