Open AccessImpact of National Economic Empowerment and Development Strategy (NEEDS) on the Private Sector: A Case Study of Power Sector
Author(s) -
Modinat O. Olusoji,
Olusegun O. Oloba
Publication year - 2014
Publication title -
journal of public administration and governance
Language(s) - English
Resource type - Journals
ISSN - 2161-7104
DOI - 10.5296/jpag.v4i3.5834
Subject(s) - private sector , empowerment , government (linguistics) , business , power (physics) , economic sector , public sector , private sector development , economics , economic growth , economy , linguistics , philosophy , physics , quantum mechanics
The paper examines the impact of the National Economic Empowerment and Development Strategy (NEEDS) on the private sector by looking at the contribution the power sector had made in realizing the goal of making private enterprise the engine of growth in Nigeria. NEEDS reform is to transform the power sector into one led by the private sector, with the role of government restricted primarily in policy formulation and establishment of an appropriate legal and regulatory framework. The paper discusses among many things: an overview of power supply in Nigeria; the effect of power sector on private sectors; challenges of the sector; as well as the ways forward. The paper concludes that there is need to put concerted effort to generate adequate power supply to enable the private sector thrives and serves as engine of growth in Nigeria.