Nigeria’s Vice President, Yemi Osinbajo, in his keynote address at the Financial Times Africa Summit holding in London on Monday, October 9 said 50 million people out of the nation’s 180 million population have no access to electricity.
The Vice President told the gathering that as part of the present administration’s efforts to diversify power sources in order to improve access, it had started a programme of providing solar power in 20,000 homes in rural villages.
The said the fortune of residents of Wuna village, outside Abuja, where the project commenced from, had improved drastically with night life returning to the village, which hitherto shut down at about 7pm until daylight.
Osinbajo stated that the Federal Government invested N1.3tn in infrastructure in 2016, making it the largest capital spending in the country’s history.
He added that the government was ready to increase the figure in the 2018 budget.
He said, “Strong visionary leadership committed to good governance has proved to be critical where our economies have recorded successes. Nigeria earning 60 per cent less revenue than five years ago, last year invested N1.3tn in infrastructure, the largest capital spending in its history and will increase that in the 2018 budget”.
He added that good governance and prudent management of resources means that you can do more with less. Ethiopia delivered its light rail and within Addis Ababa ahead of schedule and with no cost overruns.
According to him, the government is nevertheless determined and optimistic that Nigeria will, along with the rest of the continent, bring about an Africa that works for all its people and contributes to global growth and prosperity.