The incoming administration of the president-elect, Muhammadu Buhari got warning from the Federal Government.
FG asked Buhari to avoid reversing the privatisation of the power sector carried out by the leaving government administration.
Professor Chinedu Nebo, the Minister of Power, stated this in an interview with State House reporters after the weekly Federal Executive Council meeting.
He also attributed the poor power provision being witnessed across the country to those he named demon-possessed Nigerians who he said deduce pleasure in vandalising gas pipelines without any reasons.
READ ALSO: Why Buhari Must Deliver On Electricity
Speaking about the problem, Nebo said he had never in his life seen anything “frustrating ‎as what we are experiencing today.”
On privatisation, he said any call for the incoming government to inverse the exercise was an ill-advice.
The minister added that any effort to do that would mean to setting the nation back for many decades.
He said, “On privatisation, ‎I think the incoming government will be ill-advised to ‎reverse privatisation and liberalisation of power generation, transmission and distribution because any attempt to do that would be to set Nigeria back many decades.
“The gains of privatisation are very obvious. If we can solve the problem of gas like we are talking about energy mix, we are not just going by gas we are doing hydros.
“It was this same administration that flagged off Zungeru hydro power plants for 750MW and it is in the bid to flag off Mambilla 3,050MW. Shiroro has been improved, revamped, Kanji revamped and improved, the same as Jebba.
“So, there is a lot of work being done by the government; however to turn back on privatisation would mean stopping all of these companies and then reversing the massive in flow of investments coming into the power sector.
“Nigeria’s power consumption per capita is one of the lowest in the world and that is part of the efforts of government to reverse that. So I ‎don’t think it is in the best interest of the country to reverse privatisation.”
READ ALSO: 3 Major Nigerian Problems Buhari Should Tackle – Dangote
Nebo also spoke about poor power supply in Nigeria, adding that he had never been disappointed this way in his life.
“I have never in my life seen anything as frustrating ‎as what we are experiencing today.
“Every month, the Nigerian gas company spends a minimum of N120 million to fix gas pipeline.
” Every two weeks, western axis pipelines are vandalised and that is pure sabotage; the eastern axis pipelines are vandalised and that is oil theft.”
“Four major joints they are working on is going to cost them N1.5 billion. Is that the way to give light to the country?” the minister questioned.
He said the situation underpinned the problem of planning and putting all the nation’s eggs in one basket which this government has done everything to reverse.
The minister said there were days he felt like crying over vandalism.
It should be mentioned that power sector shareholdershave expressed different views about how the incoming administration should handle the industry, especially the privatisation of key power assets. While some call for a review of the privatisation of the power sector, others see it as unnecessary and uncalled for.http://www.naij.com/434107-buhari-shouldnt-reverse-privatisation-of-power-sector-fg.html

Really? You don't want those who bought it through fraudulent means coming back for their bribe?

Okay

okay

Ok..with this poor performance from Prof. Nebo, I am not sure he would be accepted back at UNN by June 2015.

He failed this national assignment period.

hun

Evev though he did not reverse anything, let him reverse that privatisation because it is the biggest scam yet.

I don't think baba will but am sure he will look into the process of privatising it and if anyone is found to have gone through the back door then be ready to return their bribe

He also attributed the poor power provision being witnessed across the country to those he named demon-possessed Nigerians who he said deduce pleasure in vandalising gas pipelines without any reasons.

What was the response of the corrupt possessed government to this vandalism............ Nothing. A government that's totally bereft of solutions to any National issue.
“

Nigeria’s power consumption per capita is one of the lowest in the world and that is part of the efforts of government to reverse that. So I ‎don’t think it is in the best interest of the country to reverse privatisation

Oh you meant to say in your best interest......... If due process was not followed it should be cancelled.

i believe GEJ robbed us on the power sector. he proclaimed himself a minister of power at the time. he used that as a gimmick during election. we all hoped and waited in vaaaaain. he sold the company and yet the usual standard remains, no light. shame on GEJ on power. he failed the common man

the person wey dey talk dat one no well

Buhari should not only reverse phcn

but it should change it back to NEPA

it was beta as NEPA than PHCN

What's there business na, abi dem wan run their government and run GMB own also? Power outage has never been this bad since I learnt how to read. The word GEJ is now synonymous with failure in my dictionary....

Someone doesn't want to cough out billions of kickback.. . Hihihihi

It should be reversed ASAP! Broke Greenhorns have no business buying our power sector!

It should be reversed and sold to organizations with technical competence (with proven track records of service delivery in other parts of the world) and plenty finance

Enough of this brigandage

They want to protect their own interests and investment