IIARD International Institute of Academic Research and Development

IIARD International Journal of Economics and Business Management (IJEBM )

E-ISSN 2489-0065
P-ISSN 2695-186X
VOL. 7 NO. 2 2021

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Power Sector Reform and Economic Development of Nigeria: Case of Port Harcourt Electricity Distribution Company in Akwa Ibom and Cross River States.

Eni, Naomi Isang., Inyang, B. J., Ene-Ita, Ene Okpo., Bassey & Victoria Ebong

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Abstract

With the steady increase in Nigeria’s population and the need to provide corporate bodies and households with stable power supply, the Nigerian government is faced with myriads of challenges in addressing the frequent unavailability of electricity supply. This has greatly affected the socio-economic activities and the general development of the country. Evidence from research has shown that lack of professionals, ineffective competition and inadequate or non-use of modern technology are major factors contributing to the poor service delivery in the power sector. This study was therefore carried out using Karl Pearson Product Moment Correlation Co-efficient (PPMC) and regression analysis to examine the relationship between power sector reforms and economic development in Nigeria with a view to identifying gaps as it relates to technological infrastructures and competence of personnel. The relationship of these variables with infrastructure and employment was also assessed using enterprise structure indicators. Survey design method was adopted in this study. A total of 397 copies of questionnaire were distributed across the two study locations (Calabar and Uyo) using structured questionnaire. Empirical analysis result showed that application of technology and engagement of professional personnel have strong positive relationships with economic development in Nigeria. It was also revealed that, enterprise structure has significant impact in moderating the relationship between power sector reform and economic development. The study recommended comprehensive restructuring of the enterprise, the use of modern technology, application of requisite techniques and methods to ensure adherence of best practices enhance productivity as well as preserve the lifespan of the infrastructures. Recruitments should be based on merit as this will reduce incompetence and help check unethical behavior in the sector.

keywords:

Power sector reform, economic development, technology, infrastructure Personnel, employment

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