President Muhammadu Buhari has been advised to review the privatisation of the power sector so that the country could leverage on a vibrant real sector to exit recession and drive Gross Domestic Product (GDP) growth.

The National Union of Textile Garment and Tailoring Workers of Nigeria immediate past president, Comrade Oladele Hunsu, gave the advice in Lagos at the weekend.
He argued that only a transparent review of the exercise to unmask those who bought the unbundled assets of the defunct Power Holding Company of Nigeria (PHCN) in 2013 and their capacities would resolve the crisis in the sector that has remained a pain in the neck of real sector operators and stunted the nation’s Gross Domestic Product (GDP) growth.
Hunsu, who described the privatisation as “shoddy and fraudulent,” said more than three years after PHCN’s assets were handed over to private investors, there had not been any significant improvement in electricity supply.
He lamented that rather than improve, electricity supply has continued to drop.

“Nigeria was generating more than 4,000 megawatts (Mw) of electricity before privatisation in 2013. Today, electricity generation capacity is wobbling between 2,000Mw and 3,500 Mw in a country with a population of over 170 million. It’s high time we reviewed the privatisation.
“We need to investigate how those electricity distribution and generating companies (DisCos) and (GenCos) were sold and who bought them,” he said.
He noted that several electricity consumers were yet to be metered years after the privatisation, adding that this underscored the abysmal performance of the sector.

While describing the private investors’ failure to meter all consumers as illegal, Hunsu accused the Nigerian Electricity Regulatory Commission (NERC) of failing to properly regulate the industry.
Besides, he said it is only in Nigeria that the government will hand over public funds to private investors as soft loans or bailouts to enable them run supposedly privatised entities.

http://www.energywatchng.com/buhari-urged-review-privatisation-power-sector/

They should just patch them along abeg. Before you know it, cries of witchhunting GEJ will pervade the political landscape.

Although that is not to say we don't know the game played by the hawks in the PDP on the sale of those govt assets.

We know the stories behind Tunde Ayeni of Ibadan Electricity Distribution Company. The Ex Chairman of Skye Bank, who was disgraced out of office in 2016.

Nitel now operating as NATCOM (NTEL) was sold to same man.

We also remember that it is same man that publicly donated a whopping 2b to GEJ's campaign funds. Only God knows how much he donated privately.

Now that he has been booted out of Skye bank, and PDP is no longer in power, it is obvious that those companies will continue to falter.

We are also not oblivious of the stories behind Yola Electricity Distribution Company.

It must be noted however that some of these DISCOs have improved on the business in some areas. They have modernized the business, deplored ICT technology and improved on customer service. The major place people are not impressed with them at all is on the installation of pre-paid meters and in their power supply.

Naija I dey hail o !

56 years of interrupted power supply and blackout.

Una do well ehn !

God go punish people wen do this country like dis.

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Oga Mynd44 front page tinz...they must c my third to comment

wizzyrich:
Naija I dey hail o !
56 years of interrupted power supply and blackout.
Una do well ehn !
God go punish people wen do this country like dis.

I cry also ....


this country yaff tire me..