Six months after power privatisation, the Nigerian government has said the scheme did not achieve its set target goal and termed it a failure.
The Nigerian Electricity Regulatory Commission, Niger Delta Power Holding Company and Bureau of Public Enterprises, reached the decision and declared that agreements entered into by power companies have not been met since they took over the power assets in 2013.
Mr. Chiedu Ugbo, Managing Director, Niger Delta Power Holding Company making a presentation at the Nextier Power Dialogue event in Abuja, the Nigeria capital city, disclosed power generation had recorded success since privatisation, but distribution has failed.
On average you can say generation is a huge success. However, because Nigerians don’t have electricity the way they intended if you use generation and distribution, they say it is below expectation. But with generation standing alone, is in my view, a success, he added.
We are spending our resources helping the distribution companies to give out meters through government intervention.
We need to find out in a clear terms what the agreements provide. There are a number of factors that the agreements are meant to address, have they been addressed, he asked.