Opinion: Shocking Fact – Why Nigeria’s Power Sector Privatization is not Succeeding
Despite the fact that privatisation was necessary, the wicked 1999 Constitution actually planned its failure by bringing up agencies, controls and over Lordship that must kill it.
So the federal government Electricity Power Sector Reform Act in 2005 (EPSRA 2005) which led to the creation of PHCN, NERC, NBET, NESI, and the unbundling of NEPA into 6 generation and 11 distribution companies. By 2013, NEPA had been privatised. The government did not privatise the Transmission Company of Nigeria (TCN); they held on to it. For easy understanding, TCN is the platform through which the GENCOs and DISCOs relate. The NERC controls them all.
Was the privatisation necessary? Yes! Government has no business in business. And no more salaries overhead.
Was the privatisation successful? Hell, n...