President Muhammadu Buhari says his administration is facing what he
calls "the classic dilemma" over the privatisation of the power sector.
He
said the privatisation of the sector had yet to show any improvement in
the quality of service, saying it was difficult to determine whether it
was done in public interest or with profit motive.
President Buhari, however, noted that since the privatisation of the sector had started, the process had to be completed.
Speaking
at the Banquet Hall of the Presidential Villa in Abuja Monday at the
commencement of a two-day National Economic Council (NEC) retreat
titled: "Nigerian State: Multi-centres of Prosperity", he said the
epileptic power situation in the country was no longer a laughing
matter.
The president said: "Key points to look at here are:
Privatisation. We are facing the classic dilemma of privatisation:
Public interest vs Profit Motive. Having started, we must complete the
process".
He also disclosed that his administration had, in its
remaining three, given itself the target of 10,000 megawatts
"distributable power", adding that in 2016 alone, the government
intended to add 2,000 megawatts to the national grid.
"Nigerians’
favourite talking point and butt of jokes is the power situation in our
country. But, ladies and gentlemen, it is no longer a laughing matter.
We must and by the grace of God we will put things right", he assured.
He
said: "Common public complaints are "Constant power cuts destroying
economic activity and affecting quality of life; high electricity bills
despite power cuts; low supply of gas to power plants due to
vandalization by terrorists; obsolete power distribution equipment such
as transformers; power fluctuations which damage manufacturing equipment
and household appliances; and low voltage which cannot run industrial
machinery.
These are some of the problems which defied
successive governments. In our determination to CHANGE, we must and
will, insha Allah, put a stop to power shortages".
He said while
the National Electricity Regulatory Commission has a vital job to ensure
consumers get value for money and over-all public interest is
safe-guarded; government has to fast-track completion of pipelines from
gas points to power stations and provide more security to protect gas
and oil pipelines
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