take over 60% of unbundled PHCN after federal government’s injection of between $8.2b-$15b of taxpayers money. President Jonathan on the occasion assured Nigerians that his administration will ensure that “Nigerians enjoy a minimum of 18 hours of electricity supply a day”, while Prof.
The privatisation of the power sector was meant to ensure adequate, regular and stable supply of electricity to the consumer at a reasonable cost. It however failed because of our environment. First, privatisation itself according to the World Bank, its architect, was designed for high and middle-income countries ‘with a competitive market, a market-friendly environment with a good capacity to regulate’. Besides it has been established we are a ‘fantastically corrupt’ nation.
In this regard, the Director General, Bureau of Public Enterprises , Alex Okoh, was recently quoted as saying “If the Discos currently in place, because of the way their balance sheet is compromised, are not able to raise sufficient investment capital, to recoup the distribution network and improve the provision of meters, then we have to look at the possibility of admitting other investors who may have the capacity, financially and in terms of the technical expertise, to improve the...
Unfortunately, while others are trying to find a way forward, those who as a result of massive fraud wrecked the energy sector privatisation initiative are refusing to be part of the solution. Speaking for PDP, Kola Ologbondiyan has said his party is opposed to the review of the current position because President Jonathan, according to him, ensured due diligence in the privatization sector’ while in office.
You are good in rising opportunities for prosperity to the expectations of the people of Nigeria. They were only used and deceived by the unwary change of the ruling party. Afterwards, they were dumped on confusion due to lack of growths.