Senate President Ahmad Lawan yesterday faulted the signing of the 2013 agreement on the privatisation of the power sector. He said contrary to Nigerians’ expectation, the privatisation had not yielded desired results in the sector.

He spoke in Abuja yesterday during a public hearing themed “Power Sector Recovery Plan and the Impact of COVID-19 Pandemic”, by the Senate Committee on Power. “How did they sign the agreement, not under duress, not with gun on our head, for this kind of huge amount of money when we know you’re not prepared to take the required generation?

We shouldn’t have signed it since we didn’t have the capacity, now we are made to cough out N14b monthly, for what? “Ministry of Finance and the Central Bank will be running from pillar to post to raise the money for work not done and yet there are problems we face every day because we’re not able to give our security agencies the kind of weaponry that they need, no manpower, 14m children out of school and then some people are busy collecting this amount of money.”

Lawan charged the committee to investigate what happened to the power purchase agreement. He said, “When you have privatization, you have Share Purchase Agreement.

This investigation should look at what has happened. “What are the responsibilities and the obligations of the Federal government in the Share Purchase Agreement? What is BPE supposed to do.

“And equally and very important, what are the successful investors who are given 11 DISCOs and 6 GENCOs supposed to do and within which time framework. “Government should not be given free money. N1.8trn has been given to DISCOs maybe in their books.

The actual money might have been given to the GENCOs. “N1.8trn is a huge amount of money. Is it part of the Share Purchase Agreement that we should be given this kind of money or what are we supposed to do as a government? What is our obligation?”

Read more: https://www.dailytrust.com.ng/power-sector-privatisation-has-failed-lawan.html

Hold politicians and the Nigerian factor accountable

Because this administration will not support it. They want to return the old system where government oversees power distribution and supply.

Mumu people

SLAP44:
Because this administration will not support it. They want to return the old system where government oversees power distribution and supply.

They are bent on killing it..... Cuz they want it to fail so that it will b re-privatized ND all APC cronies especially tinubu can but a Disco or GENCO....

There is nothing fail in the power sector. The marketers within the distribution company are the one frustrating the effort of transmission company. The way forward as far as the issue of power problem is concerned in Nigeria is prepaid meters. Let them starting issuing prepaid meters and see if things will not change suddenly.

Then remove it from the exclusive list to the concurrent list.
I know it is not possible cos the generators importers and those benefitting from the funds allocated to the power sector will rather die than seeing us having steady power supply.

All sectors have failed, including that your rubber stamped hollow chamber

SLAP44:
Because this administration will not support it. They want to return the old system where government oversees power distribution and supply.

Well, if GEJ had allowed discos and Gencos to control the prices, not the arrangement through NBET , by now there would be enough profit to at least start fixing power.