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FG Moves To Cut Power Consumption


reduce power consumption

The Nigerian government says it has taken steps to reduce power consumed by households, businesses and government agencies in the country by 85 per cent.

This was disclosed on Friday in Lagos by the Minister of Science and Technology, Dr Ogbonnaya Onu, while addressing newsmen.

The Minister said the idea was due to the need to diversify the Nigerian economy, which at the moment relies heavily on oil as the major source of foreign exchange earnings.

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Dr Onu noted that the President Muhammadu Buhari-led administration is bent on leveraging Information and Communications Technology and Science and Technology as tools to diversify and develop the economy.

He disclosed that the Federal Government was in discussion with Omatek Ventures Plc, an indigenous company, to achieve its target.

“No nation has ever succeeded by not looking inward. Every great nation has looked inward to patronise its locally developed technological innovations and other products and as such, Nigeria is looking towards that direction as well towards encouraging patronage of locally developed products. The earlier we do this, the better for us,” the Minister said.

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Explaining why the government chose Omatek as a partner in the project, Dr Onu pointed out that the need to empower indigenous technological companies and encourage the growth of science and technology in the country were taken into consideration.

The Minister said lack of funding and effective coordination has been the major bottleneck to the growth of science and technology in Nigeria.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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