Former chairman of the Nigerian Electricity Regulatory Commission (NERC), Sam Amadi has said the privatisation of the power sector was designed to fail.

Amadi made this known in a series of tweets on his official twitter handle, said the privatisation process could not produce the desired results because the power assets were sold to investors who lacked the financial and technical capacity.

The sector was privatised after the unbundling of the Power Holding Company of Nigeria (PHCN) in November 2013, as private investors took over distribution and generation firms “to ensure adequate, regular and stable supply of electricity to the consumer at a reasonable cost”.

“The power sector was designed to fail. We failed to corporatise and commercialize before privatizing; we privatize senselessly without paying attention to context and corporate governance and regulatory regime; we sold to investors who lacked capacity,” he said.

Read more: https://thebelltimesng.com/2019/06/16/power-sector-privatisation-was-designed-to-fail-former-nerc-chairman/