Lagos – Mr. Kola Adesina, the Chairman, Egbin Power Plc, has said that power supply would be more stable in the country if the price of the product is right.
Adesina, who is also the chairman of Ikeja Electric, spoke during the launch of a book titled: “The Development of the Nigerian Electric Power System (1973-1990)” in Lagos.
The book was authored by Mr Foluseke Somolu and Mr. Lawrence Amu, both engineers.
According to Adesina, if the price of a product is not right, it will affect its profitability.
“The electricity sector is fundamentally flawed and it needs to be dealt with squarely.
“The price has to be right for any investor to make it in the sector; it can only be profitable if the customers are satisfied with the supply.
“Consumers satisfaction could be possible if only the product is readily available.
“And the product can also be readily available if the price is right. So we need to go back to study it well,” he said.
Adesina said that private investors took a bold decision to invest in the power sector because they believed that the future of the country was in their hands.
He said that the reality of the present situation was that the President-elect was coming in with a huge challenge awaiting him in the sector.
The chairman said that the book being launched was very detailed and well researched.
He said that the book would really point out how to make electricity available in the country.
Also speaking, Chief Philip Asiodu, a former minister of Mines and Power, who was the special guest of honour said that the book was well written.
“When you look at the book you will see the information about how to supply electricity to the entire nation,’’ he said.
