Stakeholders Insist On Multi-sectoral Collaboration To Fix Power, Economic Challenges

Industry stakeholders have advocated the need for multi-sectoral collaborations to transform the nation’s power dynamics and solve other economy challenges.

They spoke at the Nigerian-British Chamber of Commerce(NBCC) May Breakfast Meeting held in Lagos with theme: ‘Transforming Nigeria through Multi-sectoral Collaboration’.

The managing director, Eko Electricity Distribution Company (EkEDC), Dr Tinuade Sanda said, multi-sectoral collaboration would provide the synergy, interdependence, unity and diversification of ideas necessary to achieve the best for the Nigeria Economy.

According to Sanda, the diverse sectoral contributions where excellently explored, would galvanise growth, development and economic transformation.

She noted that, “multi-sectoral collaboration is a crucial factor in advancing economic development by fostering cooperation and synergy among different sectors which promotes innovation and allows for cross fertilisation of ideas, social and economic inclusivity.”

She added that, power is the bedrock for any manufacturing organisation and as it stands, Nigeria generates about 4,000 mw of electricity even though it has the capacity to generate up to 11,000 but for some challenges.

She noted that, “non oil sector growth is the catalyst for Gross Domestic Product (GDP) growth and channeling enough power to that sector would drive economic growth and development.”

The chief executive officer, Geregu Power Plc, Mr Akin Akinfemiwa said government and private sector operators must work together to harness the potentials of the sector and solve challenges of power generation, infrastructure, transmission and distribution.

He noted that, players in the sector for decades had tried to solve the issues in silos but were without practical solutions hence the need for multi-sectoral collaborations.

He urged the NBCC to leverage its position and act as an umpire to create a framework for accountability and assign roles for all stakeholders to drive the collaborations.

Head Corporate Affairs, Alaro City, Mr Oluwayomi Amoussa said that the dynamics of operations in the Free Trade Zone reinforced the importance for multi-sectoral collaboration.

He said: “infrastructure is a large pocket that cannot be unbundled alone and collaboration is a skill in the workforce that must be harnessed to achieve the objectives of any organisation.

“These collaborations must however be rooted in ingenuity and value engineering, prioritisation and planning, education and discipline for critical thinking outside the box.”

President, NBCC, Ms Bisi Adeyemi, said, the chamber would continually serve as a distinguished platform for stakeholders to exchange ideas to advance business development in Nigeria.

“The NBCC breakfast meeting has always been a path to progress as it fosters collaboration across sectors. We believe we can forge better path for our nation and people when we come together and collaborate and share quality thought and ideas,” she said.