Nigeria’s Power Sector Privatisation has failed, to be revisited, says Senate President
The 10-year-old privatisation of the nation’s power sector is a colossal failure and should be revisited, so says Senate President Ahmad Lawan on Thursday.
He said: “It appears most of the companies, the DISCOs (Distribution Companies), have no sufficient capital and probably the same thing with the GENCOs (Generation Companies).
“If they cannot, I think we need to revisit this privatisation because we cannot go on like that. We should look at the larger interest of Nigerians not of those companies that have taken over the power sector – the DISCOs and the GENCOs.
“We are going to support the executive arm of government… We will suggest that going forward we have to revisit the privatisation because apparently the companies are not able to provide the power that we thought they could by now.”
On the complaints by MAN on the delay associated with clearing goods at the nation’s seaports, the Senate President expressed his confidence that the federal government committee on Ease of Doing Business chaired by Vice-President Yemi Osinbajo would address the issue.
The committee has since its inception done a lot to normalize and restore efficiency at the ports, he said.
He promised the National Assembly’s readiness to partner with MAN for the growth and development of the nation’s economy.
“Feel free to always come to us when there is need for legislative intervention.”
He noted that the challenges had resulted in lack of competitiveness by the nation’s manufacturers.