Okechukwu Nnodim, AbujaElectricity generation companies on Sunday kicked against calls by the Senate for a reversal of the privatisation of the power sector. The Gencos also announced that the indebtedness of the power sector to electricity producers had risen to about N1tn since November 2013 when the industry was privatised. Opposing the position of the Senate, the Gencos argued that reversing the privatisation of the sector was not the solution to the current abysmal status of the power industry. The Senate President, Ahmed Lawan, recently called for the reversal of the power sector privatisation, which according to him, had failed to deliver. “This has led to a huge outstanding debt of approximately N1tn owed to Gencos from the inception of privatisation till date,” they explained.

Source: Punch June 07, 2020 23:26 UTC