Problems with the privatization
1. It was incomplete.
The government still runs the TCN thus effectively runs the Generation and Distribution companies
2. The TCN network is old, cumbersome, inadequate and the single grid philosophy is obsolete
3. Negligible investments in the expansion of the transmission network thus making it impossible for the generation companies to inject more power.
http://www.africannewstoday.com/business/opinion-shocking-fact-why-nigerias-power-sector-privatization-is-not-succeeding/

Mikano highest share holders in Nigeria is one of the major factor of epileptic electricity in Nigeria