Nigeria’s former President, Olusegun Obasanjo said the development of Africa economically and socially depends on the provision of adequate electricity supply and advised African partners across the globe to channel their efforts and energy towards its achievement.
Obasanjo made the declaration during the FIN International Trade and Investment Forum, a sideline event at the United Nations General Assembly, UNGA, New York.
The former Nigerian leader explained that Africans and their development partners must work together to raise sufficient investment to get enough power to help Africa develop.
Also, the Director General of the World Trade Organization (WTO) Dr Ngozi Okonjo-Iweala spoke at the event and corroborated Obasanjo’s position. She added, “Africa cannot industrialize or have a solid continental manufacturing base without energy”.
Further, Obasanjo said there was a need for African countries to create a conducive environment for investment to come into the continent for power generation, power distribution and robust power transmission.
In his words, “Today, we have to think of grid systems, off-grid systems and indeed individual domestic systems to take care of what is required, particularly in the rural areas.
“I will challenge this forum to really work out what should be the factors that our leader should consider, what should be the factors that Africans in the private sector will consider and what will be the factors that the foreign investors will need and consider to be able to power Africa in terms of our development economically and socially.”