Nigeria Seeks To Generate 10 Gigawatts Electricity By 2020

Nigeria plans to generate about 10 Gigawatts of electricity operational capacity by the year 2020 in a bid to improve capacity in Africa’s top oil producer and achieve economic growth, its minister of planning, Udoma Udo Udoma has said.
Udoma, who spoke at the second Kano Economic and Investment Summit, said the government is also looking at renewable energy sources its efforts to boost power supply. “The government is committed to reviving the manufacturing sector, to achieve an annual growth of 8.5 percent meets 10.6 per cent growth rate by 2020, the minister said in his keynote address.
“We also intend to achieve self-sufficiency in petroleum products during the period. we also want to be an exporter of some key agricultural products such as rice, groundnut, cassava and vegetable oil, among others,” he said.
Africa’s biggest economy is in its second year of a downturn brought on by low prices for oil, the country’s main export, which has slashed government revenues and hammered the naira currency. Many businesses have had to shut down or lay off workers to survive.
Udoma further noted that the government intended to create no fewer than 15 million jobs for the unemployed persons in the country as part of efforts to fight poverty, particularly among the youth.
He said based on the plan, 3.7 million jobs would be created annually to address the unemployment challenges in the country.
“If you get people out of poverty, you must provide them with jobs, hence our commitment to provide jobs,” he said.
He disclosed that the Federal Government had set aside a certain amount of money in this year’s budget to provide infrastructure for the revival of the free trade zone in Kano.
He said this would give exporters in Kano the opportunity to take advantage of the funds.
“Federal Government is encouraged by the effort of many states for the progress they are making in the agricultural sector of the economy. I am confident the summit will promote investment opportunities in the state and the country at large,” he said.
© Reuters News

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