ABSTRACT
Background: The Power Sector has a great importance to our lives and takes a pivotal role in the economic transformation process. The need for electricity is paramount for the growth of a country, access to electricity as the basic form of energy supply to the masses is vital for the development of a nation’s economy.
Aims: The logic behind this project is to critique the impact of Electricity andIndustrial Development in Nigeria, also to find better energy sources for the production of electricity to rural areas in Nigeria by Power Holding Company of Nigeria.
Methods: The application of qualitative research method was used in this thesis to answer the research questions. A detailed structured interview was used as part of the data collection method. Analysis of the interview was used to acquire necessary information vital for the implementation of this project.
Results: The findings in this thesis indicate that there is a positive impact fromthe power sector on the industrial development of Nigeria. Also alternative energy source for the production of electricity is vital for effective supply of electricity in Nigeria through various renewable energy sources such as Solar, Wind, and Hydro.
Conclusions: A lesson to be learnt in this project is to encourage the growth of the Power Sector to achieve industrial development and economic growth.
Keywords: Electricity, Industrial Development, Energy, Economic Growth,Renewable Energy.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 Background for the Thesis
1.2 Objectives for the Thesis, Research Questions, Problems faced
1.3 Limitations
1.4 Research Method and Data Collection
1.5 Theoretical Framework
1.6 The structure of the Thesis
2 DEVELOPING ECONOMIES
2.1 The Development of Economy
2.1.1 Developed Economy
2.1.2 Under Developed Economy
2.2 Energy Sector in Economic Development
2.3 Energy sources of Electricity
2.4 Electrification and Industrialization
3 NIGERIA AND ENERGY SECTOR
3.1 Nigeria and Energy Sector
3.1.1 Industrialization and development Process
3.1.2 Electricity Production in Nigeria
3.2 Investment in Power Sector
3.3 Problem Facing the Supply of Electricity in Nigeria
4 CASE COMPANY: PHCN
4.1 Introduction of PHCN (Power Holding Company of Nigeria)
4.2 Electricity Production of PHCN
4.3 Electricity Sales and Distribution
5 CONCLUSIONS AND RECOMMENDATIONS
5.1 Findings
5.2 Recommendations
5.3 Suggestion for future research
6 SUMMARY
REFERENCES
APPENDICES
CHAPTER ONE
1 INTRODUCTION
1.1 Background for the Thesis
For over two decades, Nigeria has experienced problem in the area of electricity generation, transmission and distribution. The extent of this is underlined by the fact that Nigeria is the largest purchaser of standby electricity generating plants in the world. (Braimoh and Okedeyi 2010)
A country where importing of electricity generators has become a traditional norm in the society shows the level of problem the Nigerian Government is facing. Recent reports show that highly placed political figures are behind the importation of electricity generators to Nigeria.
The Nigerian Television Authority (NTA) recently reported that the Federal Government plans to eradicate and minimize the importation of generators. This potential eradication is tied to improving the current energy sector, although we can point out that the Government is more concerned with the effect of pollution and other hazardous harm the generators cause to the society.
However, eradicating or minimizing generator importation is mainly not the solution to Nigeria’s electricity problem. The Federal Government of Nigeria should gather resources and focus more on tackling the problem that leads to the importation of generators, which is POWER SUPPLY.
In addition, the Federal Government of Nigeria should subsidies other alternative energy sources such as SOLAR, WIND POWER, HYDRO POWER, which can easily address pollution concerns. The key point is focusing on solution, not fringe issues that will not benefit the Nigerian society.
Political instability has also hindered any possibility of progression in the energy sector, with the sacking of numerous high profile figures that have the interest of the Nigerian masses at heart. This selfish act was seen by Nigerian masses as a way the political leaders in this country manipulate the citizens to press on their
Fundamentally, the power sector, a component of which is the electricity sector of the economy has a great importance to our lives and takes central role in the economic transformation process. Currently power generation capacity in Nigeria is estimated to be around 6,000 megawatts, with average working capacity of 2,000 megawatts, to provide electricity for over 150 million people while in Finland the current megawatts is estimated to be around 36,000 megawatts, providing electricity for 5.5 million people.
Over the last two decades the Nigeria Energy Sector has been struggling to supply electricity in excess to the Nigeria population, as a result of this problem, to generate, transmit and distribute electricity has fallen short of the required standard
However, the shortage of electricity supply cannot be placed into a general context. Other factors include the present state of Nigerian Economy, which mainly focused on agricultural production and crude oil extraction.
The poor or near absence of physical infrastructure was also identified as a major problem of the power sector.
Based on several years of electricity research on the need of the nation, the idea to assess the supply of constant electricity to improve industrial development in Nigeria would greatly benefit the Nigerian energy sector in achieving industrial development and national electric power supply goals which entail raising the capital energy consumption over a period of 10 years.
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