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Electricity

Power Supply: Nigerian Minister of Power rules out possibility of reviewing sale of assets

Friday, 20 January 2017 13:54

(Ecofin Agency) - The Nigerian Minister of Works, Power and Housing, Babatunde Fashola (photo), has ruled out plans to review the sale of power assets to private investors.

According to Fashola, reviewing the sales is unnecessary, as three years were enough to judge the capability of the new owners.

Fashola urged electricity consumers to join forces with the power investors in order to improve their services rather than clamor for the termination of the power privatization exercise, Vanguard news reports.

The Minister explained that the power sector has been under the control of the Federal Government for 63 years and it was a collective decision that the power assets should be privatized.

The decision if revoked would result in a huge legal implication for the government, he said.

Confronted with the challenge of poor power supply for domestic and industrial use, the government three years ago decided to sell the power assets to private investors.

However, since then the private firms have being faced with the challenges of meeting expectations, thereby resulting in the call for government to review the sale of the assets.

Anita Fatunji

 
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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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