• About Us
  • Privacy Policy
No Result
View All Result
Express Day
  • Home
  • NEWS
    • Politics
    • Health
    • Education
    • Crime
    • Judiciary
    • Environment
    • Science & Technology
  • BUSINESS
    • Finance
    • Insurance
    • Agriculture
    • Aviation
    • Energy
    • ICT
    • Maritime & Transport
  • INVESTIGATIONS
  • ENTERTAINMENT & ARTS
  • SPORTS
  • en English
    ar Arabiczh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchde Germanha Hausaig Igboit Italianko Koreanla Latinpt Portugueseru Russianes Spanishsw Swahiliyo Yorubazu Zulu
Express Day
No Result
View All Result
Home BUSINESS

Senate President seeks review of power sector privatisation

ExpressDay by ExpressDay
February 7, 2020
in BUSINESS, Finance, NEWS
0
Lawan flags off empowerment program for constituents in Yobe
0
SHARES
13
VIEWS
Share on FacebookShare on Twitter

 

By Anthony Isaac

Almost seven years after it was handed over to the private sector and having largely underperformed, President of the Senate, Ahmad Lawan, has said there was a need to revisit the privatisation of the power sector.

ExpressDay recalls that on November 1, 2013, the Federal Government formally handed over majority stake in eleven electricity distribution companies and six electricity generation companies to private investors.

But many years down the line, power supply in the country has failed to improve. The government has in the past few years provided billions of Naira to support the sector and improve liquidity without positive results.

Lawan who spoke when members of the executive committee of the Manufacturers Association of Nigeria ((MAN) visited him in Abuja, admitted that privatisation of the power sector has not worked.

He said: “I think the privatisation has not worked. It has failed because the essence of privatisation is to create efficiency”.

A statement by Lawan’s media aide said the Senate President was responding to the complaints made by MAN about the adverse effects of the poor state of electricity supply in the country.

“It appears most of the companies, the DISCOs (Distribution Companies), have no sufficient capital and probably the same thing with the GENCOs (Generation Companies),” Lawan said.

He acknowledged the efforts of the government which, out of desperation to create a better situation for the privatised sector, gave out so much money to the companies.

“I think the time has come for government to take a very drastic but necessary decision. If we have privatised the DISCOs and the GENCOs, I think, the private sector, those who have taken them over, should be able to make them work better than they were before.

“If they cannot, I think we need to revisit this privatisation because we cannot go on like that. We should look at the larger interest of Nigerians not of those companies that have taken over the power sector – the DISCOs and the GENCOs.

“We are going to support the executive arm of government… We will suggest that going forward we have to revisit the privatisation because apparently the companies are not able to provide the power that we thought they could by now,” Lawan said.
Lawan noted that the issue of power has remained one of the major challenges of the nation’s economy adding that “there is no way we can make any serious progress without adequate and steady power supply”.

On the complaint by MAN on the delay encountered in clearing goods at the nation’s seaports, the Senate President expressed his confidence that the federal government committee on Ease of Doing Business chaired by Vice President Yemi Osinbajo would address the issue.

The committee, he said has since its inception done a lot to normalize and restore efficiency at the ports.
He assured the Association of the National Assembly readiness to partner with it for the growth and development of the nation’s economy.
“Feel free to always come to us when there is need for legislative intervention,” he said.

Earlier, MAN President, Engr. Mansur Ahmed listed insecurity, delwoods as major challenges facing the members of the association.

The challenges, Ahmed said has resulted into lack of competitiveness by the nation’s manufacturers.

 

Like this:

Like Loading...

Related

Previous Post

Supreme Court affirms conviction of ex-Taraba governor, Nyame

Next Post

How we’ve curtailed kidnapping, banditry in Kano — Gov. Ganduje

ExpressDay

ExpressDay

Next Post
How we’ve curtailed kidnapping, banditry in Kano — Gov. Ganduje

How we've curtailed kidnapping, banditry in Kano -- Gov. Ganduje

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • Trending
  • Comments
  • Latest
Rector becomes Giwa of Auchi Sacred Kingdom

Rector becomes Giwa of Auchi Sacred Kingdom

January 7, 2023
Buhari demands justice for Omobolanle Raheem killed by police

Murder of Lagos Lawyer: We Also Demand Justice for Edo 5 — Barrister Asunogie

January 2, 2023
Group blasts Omo-Agege’s aide over lies against Ogboru’s alliance with Okowa

Oddiri’s campaign of calumny can’t change Deltans’ love for Ogboru – Okotie-Eboh

January 21, 2023
Second interpreter of “Papa Ajasco” role, Ogunrombi, dies

Second interpreter of “Papa Ajasco” role, Ogunrombi, dies

January 15, 2023
Auchi Poly: Echoes of a Transformational Administration

Auchi Poly: Echoes of a Transformational Administration

January 26, 2023
159 Nigerians renounce citizenship in 2022 – FG

159 Nigerians renounce citizenship in 2022 – FG

January 26, 2023
Auchi Poly: Echoes of a Transformational Administration

Auchi Poly: Echoes of a Transformational Administration

January 26, 2023
IGP Baba’s Welfare Drive And The Changing Face Of NPF

IGP Baba’s Welfare Drive And The Changing Face Of NPF

January 26, 2023

Recent News

Auchi Poly: Echoes of a Transformational Administration

Auchi Poly: Echoes of a Transformational Administration

January 26, 2023
159 Nigerians renounce citizenship in 2022 – FG

159 Nigerians renounce citizenship in 2022 – FG

January 26, 2023
Auchi Poly: Echoes of a Transformational Administration

Auchi Poly: Echoes of a Transformational Administration

January 26, 2023
IGP Baba’s Welfare Drive And The Changing Face Of NPF

IGP Baba’s Welfare Drive And The Changing Face Of NPF

January 26, 2023

Follow Us

Browse by Category

  • Agriculture
  • Aviation
  • BUSINESS
  • Crime
  • Economy
  • Education
  • Energy
  • ENTERTAINMENT & ARTS
  • Environment
  • Feature
  • Finance
  • FOREIGN
  • Health
  • ICT
  • Insurance
  • INTERVIEW
  • INVESTIGATIONS
  • Judiciary
  • Maritime & Transport
  • Metro
  • NEWS
  • Oil and Gas
  • OPINION
  • PHOTO NEWS
  • Politics
  • Science & Technology
  • Security
  • SPORTS
  • TOP STORIES
  • Tourism

Recent News

Auchi Poly: Echoes of a Transformational Administration

Auchi Poly: Echoes of a Transformational Administration

January 26, 2023
159 Nigerians renounce citizenship in 2022 – FG

159 Nigerians renounce citizenship in 2022 – FG

January 26, 2023
  • About Us
  • Privacy Policy

© 2022 Express Day

No Result
View All Result
  • Home
  • NEWS
  • BUSINESS
  • INVESTIGATIONS
  • ENTERTAINMENT & ARTS
  • SPORTS

© 2022 Express Day

%d bloggers like this: