The limits on policy making
If you asked your students to list the limits on policy making described in this article, how long would their lists be?Nigeria needs $85bn to fix power
"Nigeria needs $85bn (£42.7bn) of investment in its power infrastructure in order to produce electricity 24 hours a day, experts say.
"The sum is 17 times the amount the government announced it would spend on the power sector, and four and a half times the country's oil savings.
"Most of Nigeria's 140m residents live without reliable power.
"The sum was given by a panel of experts appointed by President Umaru Yar'Adua... [T]he panel's chairman Rilwanu Lukman also said even if the country's power stations were working at full capacity, the transmission grid was broken down and neglected.
"'The grid is very weak much of the equipment is currently responsible for causing the power cuts across the country,' he said.
"Mr Lukman said there were not enough engineers in the country to work in power stations or maintain the electricity grid...
"Nigeria wants to become one of the world's top 20 economies by 2020.
"But in May the president said the continual power cuts were preventing investment in the country.
"The government is working on plans to attract private investors by subsidising their electricity bills, the finance ministry said this month..."
Labels: economics, Nigeria, politics
posted by Ken Wedding @ 8:47 AM
1 Comments:
Could this be a source of cash to pay for infrastructure?
Nigeria makes progress on stolen cash
"'Britain to return £40m stolen funds to Nigeria.'
"That was the screaming headline on the pages of several Nigerian newspapers recently.
"While it may be a lot of money, it is a far cry from the actual amount public officials are known to have stolen from Nigeria and hidden in bank accounts in the UK and elsewhere...
"Nigerians have become all too familiar with reports of huge sums of stolen public funds being recovered abroad. Most often the culprits are serving, or former, public officers and their cronies...
"An official of the Swiss embassy in Nigeria recently said a total of $500m had been recovered from the Swiss bank accounts of former Nigerian military ruler, the late General Sani Abacha.
"The recovered money - popularly tagged 'the Abacha loot' - has already been returned to Nigeria..."
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