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Some traders who lost their property to a midnight fire outbreak at the Timber market in Katoto community, Jos North Local Government Area of Plateau State last Sunday narrate their pain and frustration to JAMES ABRAHAM Traders lost about N1.2bn to inferno – Ali How much did the traders lose to the fire outbreak? My
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A chieftain of the Peoples Democratic Party, PDP, in Delta State, Chief Sunny Onuesoke has described the frequent collapse of the national grid as an embarrassment and threat to security the country. Onuesoke, who spoke to newsmen, stressed that “the collapse of the national grid serious consequences on the Nigerian economy”. While noting that electricity
Frequent national grid collapses, national embarrassment – Onuesoke
A chieftain of the Peoples Democratic Party, PDP, in Delta State, Chief Sunny Onuesoke has described the frequent collapse of the national grid as an embarrassment and threat to security the country.
Onuesoke, who spoke to newsmen, stressed that “the collapse of the national grid serious consequences on the Nigerian economy”.
While noting that electricity supply is crucial to the country’s economic growth and development, Onuesoke said the Nigerian economy suffers greatly from the regular failure of the national grid.
According to him, the problem reduces output in manufacturing and services, raises household expenses, and slows growth in the economy as a whole.
“The collapse reduces the ability of Nigerian businesses to compete internationally hence many firms are forced to invest in alternate power sources, such as generators, which dramatically raise their operational expenses.
“Secondly, the service industry as a whole is affected, especially in financial and technological fields. The steady flow of electricity is crucial to the success of these industries. The frequent grid failures cause disruptions in service, which in turn reduces both the companies’ capacity to make a profit and the quality of their service to the people of Nigeria.
“The third effect is on individual families. As a result of these blackouts, many homes have had to switch to expensive, inconvenient alternatives to conventional electricity. As a result, households will have less money available to spend, which will have a ripple effect on the economy as a whole,” he stated.
Stressing that the electrical sector requires immediate and long-term responses to the issue, he wondered what the state governors are doing after the Federal Government had given them the green light to go ahead to construct their own power stations.
“They know that without electricity there is no development in anywhere in the world. How many governors can boast of creating just 10 percent of their own power stations? None. Why is that they depend on the Federal Government for statutory allocation and electricity supply where as the Federal Government had giving them instruction to act. What are they really there for?”
It would be recalled that Nigeria has witnessed many national grid collapses in 2024.
The recent ones, which occurred three times within a week, have given Nigerians cause to complain.
Frequent national grid collapses, national embarrassment – Onuesoke
Access Bank has announced that it will temporarily shut services for a system upgrade aimed at optimising its offerings to customers. In an email sent to its customers on Tuesday, the bank stated that the upgrade will take place in phases, starting on Saturday, October 12, at 10 pm and ending on Sunday, October 13,
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Access Bank has announced that it will temporarily shut services for a system upgrade aimed at optimising its offerings to customers. In an email sent to its customers on Tuesday, the bank stated that the upgrade will take place in phases, starting on Saturday, October 12, at 10 pm and ending on Sunday, October 13,
A lecturer at Foreign Links College of Health Technology, Moro, Osun State, Dr Nsikak Akpan, who embarked on a 150-hour marathon lecture in a bid to set a new world record for longest lecture hour, has reached the 100-hour mark. On September 20, PUNCH Online reported that Akpan, while speaking with journalists ahead of the
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A lecturer at Foreign Links College of Health Technology, Moro, Osun State, Dr Nsikak Akpan, who embarked on a 150-hour marathon lecture in a bid to set a new world record for longest lecture hour, has reached the 100-hour mark. On September 20, PUNCH Online reported that Akpan, while speaking with journalists ahead of the
