Power sector privatisation has failed - Buhari laments, weighs new options

Power sector privatisation has failed - Buhari laments, weighs new options

- President Buhari said his government was not happy that several years after Nigeria's electricity sector was privatised, it has failed to deliver

- Nigeria's electricity sector was unbundled in 2013 during ex-President Jonathan's administration to give room for private investors

- Buhari, however, lamented that the privatisation has failed to deliver desired result, saying his government is committed to changing the narratives in the power sector

President Muhammadu Buhari has scored low the performance of Electricity Distribution Companies (DisCos), saying the power sector has failed to deliver the desired result years after it was privatised.

Represented by Vice President Yemi Osinbajo, President Buhari said this in his May Day address to workers at the Eagle Square in Abuja, on Wednesday, May 1.

The Nation reports that the president spoke of other options to re-engineer the sector for effective power supply to meet domestic and industrial needs of Nigerians. He was not, however, specific on the options.

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President Buhari said his government was not happy that several years after the sector was privatised, it has failed to deliver.

The president said the government was “strongly committed to changing the narratives” in the power sector.

He said: “Today, that sector, after it was privatised, still remains stalled in delivering power to many Nigerian homes and businesses.

“We must act as a matter of national importance and we are committed to doing so, to work and re-engineer the sector for much more effective performance. Workers shall be called upon to play a greater role in supporting the government to attain all these goals.”

Recall that the Power Holding Company of Nigeria (PHCN) PlC was unbundled in 2013 during the administration of former president Goodluck Jonathan. It was to allow for private sector involvement in the generation and distribution of power.

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Meanwhile, Legit.ng previously reported that the Transmission Company of Nigeria (TCN) said power generation had reduced due to an emergency maintenance by Nigerian Gas Company (NGC) on pipeline supplying gas to Egbin, Omotosho, Olorunsogo and Paras power stations.

Ndidi Mbah, TCN’s general manager of the public affairs in a statement on Saturday, April 27, said the maintenance led to the total shutdown of the four power generating plants on April 25.

Mbah said the maintenance on the pipeline was reportedly caused by a leakage discovered on the Escravos-Lagos gas pipeline system.

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Source: Legit.ng News

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