- Previous administrations have been indicted for the problems faced by Nigerians in the power sector
- Specifically, Lai Mohammed faulted the government of Goodluck Jonathan for the incompetence of foreign investors in the sector
- Mohammed said that the Buhari-led government incurred a debt of N701 billion when it came into power
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The federal government has pointed accusing fingers at the past administration for being responsible for the multiple problems Nigeria has in the power sector.
According to the minister of information and culture, Lai Mohammed, the Goodluck Jonathan-led government sold the power generating and distributing companies to quack investors, adding that the government has so far spent not less than N1.7 trillion to remedy the ensuing lapses, The News Agency of Nigeria (NAN) reports.
Mohammed said the Buhari-led government had two options to resolve the issues: cancel the entire sales or to get the Distributing Companies (Discos) to recapitalise.
The minister noted that when President Muhammadu Buhari took over the government in 2015, his administration inherited the debt of the Discos which at the time was about N701 billion.
“We took over the debt of the Discos, which was about N701 billion, because of the effect the cancellation of the sale will have on the country and international investors.
“The people are simply incompetent and if we did not provide the money that means they will not distribute power to anybody.
"To borrow just to subsidise generation and distribution, which are both privatised, will be grossly irresponsible."
Meanwhile, the government addressed the recent issues surrounding the price of fuel and electricity tariff.
Mohammed, at a press briefing in Abuja on Monday, September 7, said the angry reactions that have greeted the latest prices of petrol are “unnecessary and totally mischievous.”
“The truth of the matter is that subsidizing fuel is no longer feasible, especially under the prevailing economic conditions in the country."
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