Senate Committee on Privatisation today, Sunday 10th may 2015 explained the dismal performance of power sector investors, disclosing that most technical partners that bought the country’s power assets did not bring one kobo.

The committee also said the National Council of Privatisation (NCP) under the chairmanship of Vice President Namadi Sambo committed grave errors, including the council’s refusal to sell the power assets in phases.

The Chairman of the committee, Senator Gbenga Obadara disclosed diverse challenges that made stable power supply a mirage in an interview after the private investors had bought 60 percent equity shares in the country’s power assets.

But Obadara explained that most technical partners the federal government brought to purchase the power companies “did not bring one kobo. The partners did not bring monies. The partners only brought in their technical knowledge.

Read full story
http://monitor9ja.com/2015/05/senate-cttee-power-investors-did-not-bring-one-kobo/

May otuoke forever dwell in darkness,Dats all i have to say.

Sickening revelations everywhere and everyday.
Yet one clown that blamed witches and wizards for the failings in the power sector and didnt add one single watt of electricity during his tenure as minister,whereas his predecessor made remarkable impact,does not want d fraud in d name of privatisation to be reversed.
The privatization in d power sector was nothing but a state approved fraud leaving Nigerians in d hands if d same cabal who neither have ethical biz acumen nor have ever put in their own hard earned funds into any biz venture.

Fraud signature everywhere with GEJ
May we never experience such government anywhere on this planet again. Never again

That awkward moment when you can't tell how low govt can go? If we decide to tell the worst of this administration, Seun will become a billionaire.

Now that the Ghana-Must-Go has finished, they have started to remember there oversight function.

Brb..