The Chairman, House of Representatives Committee on Power, Victor Nwokolo, says the Federal Government is committed to boosting the economy through policy initiatives in the power sector.
Nwokolo stated this in Onna, Akwa Ibom on Monday while briefing reporters, noting that President Bola Tinubu-led administration had achieved remarkable strides in the power sector through the Presidential Metering Initiative.
The lawmaker stated that the Federal Government’s intention was to encourage local investors in the power sector, as he decried the importation of meters from other parts of the world, describing it as unfair to local investors.
“To achieve this, we must conserve our foreign exchange, and increase the value of the Naira by patronising local manufacturers,” he said.
Nwokolo commended Tinubu for his administration’s priority attention to the power sector, saying,” the administration has to be thanked for its sense of direction”
9News Nigeria reports that some of his words were; “This is not helping our local investors, it is not also supporting the growth of the economy, job creation and foreign exchange earnings.
“The Nigerian Local Content Law must be considered. It should not be business as usual. “The negative effect of bringing in meters and other finished products is that our youths will find it difficult to get employed.
“When those imported meters get bad who repairs them for you? Let’s patronise local manufacturers. So that when the meters get bad, we can return them to the Discos,” he said.
