Speaker of the House of Representatives Yakubu Dogara has called for a review of the power sector privatization.
Dogara, who spoke during a public hearing by the committees on power and privatization and commercialization yesterday in Abuja, said millions of Nigerians are being exploited through estimated bills by the staff of different electricity companies.
Represented by the Minority Whip, Rep Yakubu Barde, the speaker also expressed dismay that the duration of uninterrupted power supply in the country is now between six and eight hours daily, adding that the process of metering customers in the country was dismal.
Dogara also noted that while the country’s power generation capacity has not improved, tariffs were increased in February this year.
“The whole essence of the Federal Government embarking on the privatization of the defunct Power Holding Company of Nigeria (PHCN) and the electric power sector reform program was to bring about efficiency to electricity supply. Unfortunately, since the unbundling of PHCN and transfer of the businesses to the privately-operated successor companies on November 1, 2013, we have not had a good report from the electricity market.
“The statistics show an abysmal situation of things and if this trend continues, there may be need for a fundamental re-thinking of the privatization process in Nigeria.
“In spite of all these, we have reports that the cumulative market shortfall has risen to over N700bn as of date. This trend escalates at the rate of about N25.6bn monthly from NBET’s August 2016 Electricity Market Payment Report,” he said.