As Nigerians continue to grapple with an unsteady power supply and rising electricity tariffs, security consultant and entrepreneur Mr. Matthew Ibadin has called on President Bola Ahmed Tinubu to prioritize electricity supply across the country. He emphasized that without a stable power supply, industrialization and economic growth would remain a pipe dream.
Speaking to journalists on the sidelines of the recent 34th Convocation Ceremony in honor of the Graduating Cadets of the 71st Regular Course and Postgraduate students of the Nigerian Defence Academy (NDA) in Kaduna, Ibadin—one of the graduating Master’s degree students—highlighted that Nigeria’s current electricity generation capacity of about 5,500 megawatts is woefully inadequate. He referenced a recent statement by the Association of Nigeria Electricity Distributors, which stressed that Nigeria requires at least 33,000 megawatts to stabilize its power supply.
Ibadin, who is also the Managing Director of Badinson Security Services Limited, pointed out that President Tinubu’s eight-point agenda includes economic growth and job creation, but he insisted that these goals cannot be realized without a stable power supply. According to him, the private sector, which is the largest employer of labor worldwide, is particularly hard-hit by the lack of reliable electricity. “In Nigeria, businesses are struggling not only because of poor infrastructure but also due to the soaring costs of generating their own electricity,” Ibadin said.
He noted that many Nigerian businesses, especially small and medium enterprises, have taken out loans that they are now unable to repay due to the rising costs of running their operations, largely attributed to the high cost of fuel and diesel. “Nigeria is unique in that it is the only country where business plans consistently fail due to the overwhelming expenses of generating private electricity. This is unsustainable, and it’s pushing companies to the brink,” he added.
Ibadin further lamented that many artisans and skilled youths are turning to crime out of frustration, as the lack of reliable electricity prevents them from practicing their trades. In addition, multinational corporations and large companies are either downsizing or leaving Nigeria altogether due to the escalating costs of powering their operations. He stressed that without immediate and significant improvements in the electricity supply, Nigeria’s industrialization efforts will falter, and the country will remain stuck in a cycle of economic stagnation.
The security consultant urged President Tinubu to make electricity supply the topmost priority in his agenda, asserting that almost all production and service processes in both the public and private sectors are power-driven. He suggested that the country’s outdated and inefficient power grid must be modernized through technological upgrades and infrastructure development, to reduce the frequent blackouts that continue to hamper productivity.
Ibadin also highlighted that the government needs to create an enabling environment for private businesses to thrive, as the private sector is vital to the nation’s economic growth. He noted that Nigeria’s private sector plays a critical role in employment and economic stability, but without reliable power, its potential is stifled.
In addition, Ibadin stressed the importance of rural electrification, noting that the lack of electricity in rural areas severely limits educational and economic opportunities, perpetuating poverty. He advised President Tinubu to expand rural electrification programs to ensure that all communities have access to reliable power, fostering inclusive growth and development across the country.
As many Nigerians already struggle with high electricity tariffs, which have made power unaffordable for a large portion of the population, Ibadin called on the Tinubu administration to introduce a subsidy program for low-income households. He also advocated for the promotion of energy-efficient practices to reduce overall consumption and costs.
Ibadin concluded by urging President Tinubu to declare a state of emergency in the nation’s electricity sector, stating that once power generation is increased to the required 33,000 megawatts, it will lay the foundation for broader economic development. “Without electricity, industrialization will remain a distant dream. It’s time to take decisive action for the future of this country,” he said..
Reflecting on the failures of previous administrations, Ibadin expressed his concern that successive Nigerian governments have been making policies “in the dark,” and he hopes that President Tinubu will not fall into the same pattern. “One agenda that should be paramount now is ‘light up Nigerian businesses.’ If he can achieve this, he would go down in history as one of the best Presidents Nigeria has ever had,” Ibadin concluded.
