Power and Sustainable Development: The Place of Power in the Transformation Agenda of the Federal Government
By Adeola Adenikinju, PhD Professor of Economics, Department of Economics, and Director, Centre for Petroleum, Energy Economics and Law (CPEEL) University of Ibadan.
Power has become an indispensable prerequisite for enhancing economic activity and improving human quality of life. Agricultural and industrial production processes are made more efficient through the use of electricity. Households need electricity for many purposes, including cooking, lighting, refrigeration, study and home-based economic activity. Essential facilities, such as hospitals, require electricity for cooling, sterilization and refrigeration. (Extract from “Prospect for African Power Sector”).
“Affordable Energy in ample quantities is the lifeblood of the industrial societies and a prerequisite for the economic development of others” Jon Holdren (2001) “Coal, in truth, stands not beside but entirely above all other commodities. It is the material energy of the country – the universal aid – the factor in everything we do. With coal almost any feat is possible or easy; without it we are thrown back in the laborious poverty of early times” William Stanley Jevons, Founder of Mineral Economics (1865).
