Elumelu Highlights The Need For Stable Power To Boost Nigeria’s Growth

Speaking at the ongoing Banking and Finance Conference organized by the Chartered Institute of Bankers of Nigeria (CBN) in Abuja, Elumelu highlighted the critical role of electricity in the nation’s industrialization and overall progress.

“Nigeria cannot move forward without consistent access to electricity. Our country’s industrialization and educational advancement depend on transforming our abundant natural resources into reliable and ample power,” Elumelu stated. “We need a power sector that not only encourages investment but also propels our economy forward.”

Elumelu’s remarks come amid Nigeria’s struggle with generating just 5060.10 megawatts of electricity for a population exceeding 200 million.

The two-day conference, themed ‘Accelerated Economic Growth and Development: The State of Play and the Way Forward,’ featured prominent figures from Nigeria’s banking sector, including Vice President Kashim Shettima and Abia State Governor Alex Otti.