Abubakar Declares Strong Support For Tinubu’s Administration, Highlights Progress In Power Sector

Engineer Umar Abubakar, a PhD holder in Accounting and a seasoned professional with experience in finance and power administration, has voiced unwavering support for President Bola Ahmed Tinubu’s administration, specifically praising its efforts to address Nigeria’s persistent power crisis.

In an exclusive interview, Eng. Abubakar detailed the progress he’s witnessed and offered insights into the challenges and solutions facing the nation’s energy sector.

Eng. Abubakar, whose career spans the Nigeria Deposit Insurance Corporation (NDIC) and the Federal Ministry of Power, acknowledged the initial skepticism surrounding President Tinubu’s policies.

“The government started amidst turbulence,” he admitted, “but by the grace of God, we are gradually achieving stability.”

He cited recent improvements in the foreign exchange market, fuel availability, and price stabilization as evidence of positive momentum.

He specifically pointed to the burgeoning Compressed Natural Gas (CNG) project as a key initiative driving positive change, noting firsthand observations of increased public engagement.

“It has been a wonderful journey,” he continued, emphasizing the recent appreciation of the naira as a surprising yet significant achievement.

“Though Nigerians are always impatient,” he conceded, “the little patience we have extended to the government is yielding results.”

He expressed optimism for 2025, predicting significant economic improvement, acknowledging that “every project encounters challenges at the beginning, but we are overcoming them gradually.”

Eng. Abubakar attributed significant milestones in improving the transmission network to the leadership of Engineer Abdulazeez at the Transmission Company of Nigeria.

He stressed the importance of public support in achieving the administration’s objectives, urging fellow Nigerians to remain patient and dedicated to their work.

His experience within the Federal Ministry of Power provided a nuanced perspective on the challenges plaguing the sector.

He highlighted the ministry’s efforts to transition from a centralized grid to a mini-grid system to ensure more consistent electricity availability across states.

He defended the tiered electricity tariff system, explaining that “it is impractical for everyone to have the same electricity band,” and that the banding ensures fairness and incentivizes increased power supply.

Eng. Abubakar, also a chartered accountant, addressed the substantial national debt, stating that the government is actively implementing schemes to address it.

He also highlighted the need for increased power generation, noting that the current 5,000 MW capacity is woefully inadequate for a population exceeding 200 million.

He advocated for diversification beyond hydropower, emphasizing the importance of integrating solar and other renewable energy sources.

He further stressed the need for improved performance from distribution companies, emphasizing that their capacity expansion is crucial for effective electricity delivery to consumers.

He stated that “until customers experience consistent electricity, the distribution reforms will have limited impact.”

In assessing President Tinubu’s performance since his inauguration on May 29, 2023, Eng. Abubakar gave a strong endorsement.

He awarded the President an 8/10 rating, praising his economic and tax reforms, particularly the consolidation of multiple taxes into a single system.

He argued that while some of the President’s initial decisions were met with misunderstanding, their wisdom has become increasingly evident.

“As an accountant, I recognize that progress requires patience,” he added, drawing parallels to the developmental trajectories of other prosperous nations.

Abubakar expressed his unwavering belief in President Tinubu’s capability to deliver positive change for Nigeria, wishing him continued success and good health in his efforts to transform the nation.

His statement serves as a strong endorsement of the current administration and its efforts to overcome Nigeria’s multifaceted challenges.