We must stay the course, keep our focus and see our country turn around.
In November 2015 and...for the first time in Nigeria's history, we generated 5000MW of power. Power was becoming stable. By February 14, 2016, sophisticated vandals hit the Forcados export terminal which supplies over 40% of Gas going to our power plants.
To solve the problem, we need to expand the sources and volumes of our gas assets. Gas is available but pipelines are not.
Transmission is another problem. In the short to medium term, we are working to complete many of the abandoned transmission assets.
Let me share with you a glimpse of an aspect of the future. Let me lay before you the Federal Government’s plan for technology and innovation.
The key to change and our future prosperity lies in innovation. Innovation is critical to our economic prosperity.
From town criers to smart phones, from beasts of burden to driverless cars, there is and will always be new technology. Reinventing the way we work, re-imagining the standard of living we expect and reshaping the future to come.
If you can order a taxi through an app, it's not unreasonable to expect govt. to make its services and support to its citizens as seamless.
Not too long ago, Justus Nwoga successfully developed a solar PV panel based on a plant. He built solar cells from weed extracts.
Jason Njoku made the Iroko brand the largest mainstream licensor and distributor of over 5,000 Nollywood films and music. Jason Njoku's Iroko, has attracted $20 Million in equity investments.
Similarly, the Jobberman trio; Opeyemi Awoyemi, Olalekan Olude and Ayodeji Adewunmi founded the company while they studied at OAU.
The Jobberman trio have now divested their interests in the company and investing in other young Nigerian start ups.
Our government is paying attention and we recognize the trends. Said the Vice President.
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