Former President, Cheif Olusegun Obasanjo, has revealed that the refusal of international oil companies (IOCS) to convert gas to power contributed to the deteriorated state of electricity in the country.
Obasanjo, who, spoke at a high-level session on “Africa’s, Energy: What’s the New Deal?”, at the ongoing 2016 annual meetings of African Development Bank (AfDB) in Lusaka, lamented that rather than building power plants for Nigerians to benefit, the IOCs preferred to burn the gas because such projects didn’t add to their profitability.
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