Tinubu Reaffirms Power as Key to Prosperity; Energy, Pillar of Economic Growth

In a bold reaffirmation of Nigeria’s commitment to economic development, the President has declared that access to reliable power is central to the country’s prosperity, stating that “without power, industrialisation, and even human life is impossible.”

Speaking at a high-level stakeholders’ forum on energy and economic development, the President emphasized that power remains humanity’s most significant discovery in the last millennium.

He reiterated that a growing economy inevitably demands more energy, underlining the administration’s resolve to enhance power generation and ensure energy security.

“The economy will grow, and we will consume more energy. We will be in a position to pay our debts. We will give you papers to trade. And they will give you two lives to ensure continuity in the business,” he remarked, stressing the government’s readiness to support sustainable enterprise and credit systems.

While acknowledging the challenges in the power sector, he praised the ongoing improvements spearheaded by the Ministry of Power.

“I have listened to the Minister of Power that we are improving, and I accept that.

We are not where we should be yet in power generation,” he said, calling for continued efforts and collaboration among all stakeholders.

He also commended energy sector practitioners for creating a more stable and predictable investment environment.

Notably, he praised the Central Bank of Nigeria’s reform efforts which have made access to foreign exchange more efficient, removing the need for political connections.

“You are spending responsibly, and that is where we want Nigeria to go.

The destination is prosperity, bus stop,” the President concluded, drawing applause from participants.

The remarks come amid renewed government initiatives to overhaul Nigeria’s energy infrastructure and boost investor confidence in the sector.