Instead of compounding the challenges in the sector, the GenCos, in a document, which detailed their performance and challenges insisted government would do better by addressing the structural issues bedevilling the sector. “It is very pertinent to state that the reversal of the privatisation exercise of 2013 is not the solution to resolving the current abysmal state of the sector,” the group said. Being a recurring debate since the administration of President Muhammadu Buhari came to power, just last month, the Senate President, Ahmed Lawan, during the deliberation of a motion on Nigeria’s power sector recovery plan, and the impact of the COVID-19 pandemic, said that power sector privatisation has failed, and called for its review. The power companies under the umbrella of Association of Power Generation Companies (APGC) also called for a viable and independent stress test on the generation, distribution and transmission capacities to enable the sector plan proactively and build the industry sustainably. We also understand that this may have led to the frustration expressed by the Senate in calling for an outright cancellation of the privatization of the Power Sector,” GenCos stated.

Source: The Guardian June 10, 2020 04:18 UTC