By Shola Abayomi.
The Senate has called for the immediate reversal or outright cancellation of the power privatisation policy.
Speaking during plenary on Tuesday, the Senate President, Dr. Ahmad Lawan, averred that Nigerians may not enjoy adequate power supply in the next 10 years if the status quo is maintained.
Lawan, who made the assertion following a motion moved by Senator Gabriel Suswan (Benue North East, PDP) on the power sector recovery plan, added that the efficiency of power generation and distribution companies (GenCos and DisCos) has been far from satisfactory despite the trillions of naira spent.
He said, “We gave power to them (GenCos and DisCos) and they still come to the public to ask for funds.
“I think it’s time for Nigeria to consider reversing the privatisation of the power sector or they should just cancel the entire privatisation process completely.
“If we leave it, we may not have power for another 10 years.”
The Senate President added that “the privatisation of the power sector has, so far, not been successful. We expected efficiency and effectiveness in the power supply.
“The Discos have no capacity to supply us power. The Gencos have challenges too. It is not a good commentary that we should continue to give them money. They’re private businesses. We need to review this privatisation.”
He further called on the relevant Senate committee to investigate the funds so far invested in the power sector.
“Our committee needs to investigate trillions spent. That’s a lot of money. Try to find out what has happened so far. Government needs to look at this whole thing. Maybe, government is not doing its own part. We need to find out.
“There is lack of capital, lack of investment. We feel very bad because we have no electricity and the country is suffering”, Lawan said.