Engr. Sani Yabagi, the National Chairman of Action Democratic Party (ADP) and immediate past National Chairman of Inter-Party Advisory Council (IPAC) has condemned the blackouts in three regions of the country, saying that efficient supply of energy is vital to economic growth.
It will be recalled that three regions across the country, South-East, North-West and North-East regions have experienced blackouts in as a result of national grid collapse in the past three weeks.
Yabagi in an interview on Sunday stated that Nigeria’s economy is largely public sector driven, stressing that any economy that is public sector driven doesn’t operate efficiently because the things that are required to make the economy to function are not given a sense of urgency.
Yagabi said, “Efficient supply of energy to the economy is key to the function at optimal level of that economy. Like I said earlier our economy is public sector driven, meaning that the government is the one running the economy, not private, and that is why we have all these problems. If they had properly privatized the power sector, not giving their friends and families jobs to do, we wouldn’t be where we’re today because it’s public sector driven and there’s no accountability in our country. Once you leave the government hardly will you be called back to answer questions.
“Until we move our economy from the public sector to the private sector things won’t improve. Look at the Monetary Policy and the Fiscal Policy of this government. Looking at the way they’re mopping up Naira by Treasury bill, you’ll ask yourself when they mop up this money where do they invest it in. Maybe largely they take it to pay the deficit in the budget. The irresponsible manner by which our government is run is not good. They’re denying the private sector like the manufacturing sector the money they would have used by increasing the interest rate and the government itself is getting money through different ways and means. This is where they get easy money. It’s again spent on things that don’t have direct bearing on the masses welfare.
“We’re having this probe in electricity because from inception governments, including previous governments use this electricity to syphon money out of government. Former Governor Obasanjo also left billions of Naira that were not accounted for, so also Buhari.
“Bola Tinubu’s government doesn’t even know what they’re doing. The grid collapse they’re talking about didn’t start today. These grids were built several decades ago and they were not modernized to be smart so that we wouldn’t have the situation that we’ve today.
“Three regions on blackout wouldn’t happen if they had what is called cardiac system, it would be intelligent enough to isolate any area that has a problem and it won’t affect the entire region or entire country as the case may be. All these are happening because the government is the one driving the economy. Until people realize the negative impact of the way we’re running our economy we wouldn’t get out of this.”
He added, Today there’s news that about 10,000 petrol stations are going to close down because Nigerians have stopped buying fuel. The fuel consumption from 60 million per day has gone down to 4.5 million. Which means that subsidy removal is a very bad policy for our economy. If care isn’t taken we’ll experience another recession.”
- Coastal Highway Scandal: I’ve Been Vindicated, Atiku Says - October 16, 2025
- Nigeria, Austria Deepen Bilateral Economic Relations - October 16, 2025
- We’re Committed To Speedy Judicial Trial Of Waiting Inmates – FG - October 16, 2025