The Senate yesterday described the privatisation of the power sector in Nigeria as a total failure, chiding power sector operators, including Generation Companies (Gencos), the Transmission Company of Nigeria (TCN), and Distribution Companies (Discos) for failing to deliver reliable electricity.
The senators’ position was a sequel to the presentation of a report by the Chairman of the Senate Committee on Power, Enyinnaya Abaribe, that investigated frequent national grid collapses and related issues.
They insisted that the players in the sector have added no significant value to the sector, warning that it might propose legislative measures to repeal the policy.
The red chamber insisted that it would probe the activities of Gencos, the TCN and Discos, for failing to deliver reliable electricity, threatening to come up with legislative measures, including new laws.
It claimed that the privatisation, introduced in 2013, has plunged Nigeria deeper into darkness, leaving citizens without solutions. The Upper Chamber directed the Abaribe panel to conduct a holistic investigation into the challenges of the sector.
