Nigeria Senators About to Reverse Privatization of PHCN

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  1. Nigerian senators have called for the reversal of the privatization of the Power Holding Company of Nigeria (PHCN) and other assets in the power sector. 
    According to them, the power sector cannot move forward with the way the system is structured. They spoke during a debate on overbilling of electricity consumers by Distribution Companies (DISCOs).

    Senator Dino Melaye sponsored a motion calling for reversal of the privatization of power assets and many senators supported him.

    According to Chairman Committee on Privatisation, Senator Ben Murray-Bruce (PDP, Bayelsa) those who invested in the business thought it was like a company where they will make a lot of money.

    “They are technically bankrupt; unless we re-visit the entire privatisation process, unless we understand and dissect what went wrong, we will still get estimated billing.

    “We have a catastrophe in our hands; there will be no light in Nigeria under the current structure.”

    The Vice chairman of the Committee on Power, Senator Bukar Mustapha (APC, Katsina) said the privatization of power sector has failed because the country has a 12,000MW capacity but can only generate 4000MW of electricity.

    “The privatisation model we have used has not worked. We are sitting on an emergency. Something has to be done drastically to address the situation, “he said.

    Deputy Senate President, Senator Ike Ekweremadu, who presided over the plenary said the prayers on the motion should be stepped down pending the consideration of the report of the Senate Committee on Power on the privatization of the power sector.

 

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