Saraki: Privatisation of power sector has failed; mandates Senate Committee to consult stakeholders

Senate President, Dr. Bukola Saraki, has described the privatisation of the power sector by the Goodluck Jonathan administration as “a total failure”.
Saraki, who said the privatisation was not well thought out before implementation, lamented that millions of Nigerians are now going through harrowing times due to this error on the part of the former administration.
The Senate President, who revealed this while welcoming senators back from their new year break, said the Jonathan administration committed errors in the privatisation process and the model by which the power sector is being operated in the country.
Saraki said even now that the failure is glaring, nobody appears willing to tackle the issue head-on towards a permanent resolution.
He said: “Distinguished colleagues, before we left for the break, myself, a select few of us and stakeholders in the power sector met to get an understanding of why no progress has been made thus far, despite the best intention; and the revelations were mind-boggling.
“There had been errors in the privatisation process and the model by which the power sector is being operated—whether at generation or distribution—will never take us where we need to be. It has failed and nobody appears willing to tackle the issue head-on towards a permanent resolution.
“I have mandated the Senate Committee on Power to continue the consultation with the relevant parties to forge a path to solving our crippling power deficit. After all, if we are going to drive Nigerian industry, we need to resolve this and fast.”