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ECONOMIC ANALYSIS OF THE IMPACT OF ELECTRICITY POWER SUPPLY ON ECONOMICS GROWTH IN NIGERIA

CHAPTER ONE

INTRODUCTION

1.1     Background to the Study

          From  the time immemorial, human being has sought the use of one from of energy or the other for daily use. Warmth for sunlight, the use of dried wood as fuel for cooking and warming of residences in temperate climate are few or the rudimentary ways and the initial form of energy discovered by man o earth. The discovery of electricity by Thomas Ealison towards the end of the 19th Century revolutionized the options open to man in his quest for energy.

The advent of the usage of electric power in the geographical region known as present day Nigeria cannot be precisely fixed except that it was a component of the wind of change brought about by colonialism, however, it could be fixed tertiary as 1896, which was the year the first power plant was installed at marina Lagos. The plant devoted essential to the generation of electricity for residential consumption in addition to saving to light up the streets around government quarters in Lagos.

The year 1950 marked a turning point in the country history of power generation and consumption. In that year the electricity co-operation of Nigeria (ECN) was established. The electricity corporation of Nigeria was responsible for electricity generation and distribution until in1962 when the niger authority was (NDA) was established. The Niger was saddled potential of the river Niger. The electricity were in 1972 to form the National Electricity power Authority (NEPA) (Anyanwu Cual 1997).

From its colonial inception in Nigeria, the importance of electricity cannot be overemphasized because of its numerous uses in our town and homes and also in sending out radio and television programme which keep people information out what is happening around them. It is used in factories to drive machinery and there is selection in menial or white collar, that electricity is not an output in its production function.

Despite the positive codefendants of electricity in Nigeria, however, there are some issues concerning the provision of electricity that have been pyramidal and have remained unsolved since Nigeria attained political independence. The chief among these pyramids is the issues of inadequate supply of electricity which has constituted the main independent.

To the growth energy sector in Nigeria setting off a chain reaction that has affected other sectors of the economy. There are a lot of divergent views as to the cause of this inadequacy. The government over the years have pot been able to give a tenable reason while prowls opinions is of the view that the attendant problems borne as a result of the epileptic power supply is due to the negligence of government and its failure to pin round the pegs in round holes according to Mr. Uduimo himself the chairman of volume of Nigeria exports of ECOWAS marked due to high prices brought about by high cost of production. He noted that it is true that local production are more expensive that the inadequate infrastructure under supply of electricity which has further compounds the problems in Nigeria manufactures because this has m     de local products less competitive.

Consequently, Asian and European manufacturers, who mainly use public electricity (which is chapter), have taken the market from then Nigeria counterparts with their own generating sets. The proof for the above statement can be deduced from the opinion of Alhaji Abubakar Samo (director, general energy commission of Nigeria) he stated that 67% of electricity generated in Nigeria is generation by the private manufacturing sector.

These does not augur well for a country coping to have economic growth and untimely development in the words of Mrs. Dupe Adelaja (director general, SMEDAN) between #400-#500 million is needed for two years in order to catch up with what we have missed in the energy sector. This is because about 300 megawatts of electricity is being generated annually instead of the required 600 megawatts, such as about #1.3billions is being spent annually on generating set by those who can afford it.

All the stated spending would have been needless, had it been that the supply of electricity was sufficient and stable. A number of studies have been made and also argued that generalized access to infrastructural services play a key role in helping to reduce inequality and poverty. Against this background there is a growing perception that in many countries the pressures of fiscal consolidation have led to a compression of public infrastructure spending not met by increased private sector participation of infrastructure services with potentially adverse effect on economic growth and productivity. (Blanchard etal 2003) as quoted in Calderon etal (2004).

Well performing infrastructural services crucial for enabling countries to participate in and benefit from such development as globalization. They are equally important to effective implementation of poverty reduction programme.

In spite of the ole of infrastructure, the sector has been grossly under funded relative to the demands of economy. For example, the share of public ability is sector in Nigeria public sector investment was of the economy, 44.2% in 1962,36.3% in 1981-1985 (CBN, 2000).

A general survey of households, enterprise and public official commissioned in 2001 as part of federal ministry of finance, (2004) summed up infrastructure situation. The vast majority of Nigerians have access to basic public services. Poor people in the rural areas complain generally about lack of access to portable water (consistently a top priority); education, health care, rural federal roads, electricity and generally unavailability of market, in urban areas, the services typically lacking are pipe borne water, access to health and education facilities, regular electric facilities in Nigeria

1.2     Statement of Problem  

          The statement of the problem is, has electricity played any role in the sustenance of the nations economy? Since it could be inferred that the back bone upon which a country’s affluence was built was one made up of electric power supply. Therefore,

  1. The adequacy of electricity supply and distribution which could not catch up with the demand requirement creating an imbalance.
  2. the inadequacy of electric supply and distribution which was the frustrating and disturbing economic development issue in the Nigeria economy and society.

How to get complete project materials


Step 1: make payment of N2,000 to the below bank details


NAME:                       TITUS AYANI SOLA
BANK:                       FIRST BANK PLC
ACCT NO:                  3111741042
ACCOUNT TYPE:       SAVINGS
AMOUNT:                  N2000

STEP 2: AFTER PAYMENT SEND THE PROJECT TOPIC AND YOUR EMAIL ADDRESS TO 08063666753

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Updated: August 17, 2017 — 11:08 am

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