Impact of National Economic Empowerment and Development Strategy (NEEDS) on the Private Sector: A Case Study of Power Sector

Abstract

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.