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Petroleum Economists Supports Calls For probe into the Privatization of the Power Sector.

Petroleum Economists Supports Calls For probe into the  Privatization of the Power Sector.

To say that the nation’s power sector is not performing up to expectation is to only underscore the glaring fact.

This is more worrisome considering the fact that the several reforms already carried out in the sector seems not to have achieved the desired result.

In this report, Impact Business Radio’s Pelumi Olaosun took a look at the challenge of power generation and distribution in Nigeria.

From Electric Corporation of Nigeria to National Electric Power Authority and to the Power Holding of Nigeria, the nation's power sector has undergone many reforms since independence.

In spite of the perennial change in nomenclature, no significant improvement seems to have been recorded in the sector.

Dissatisfied with the situation of the sector, the Goodluck Jonathan administration brought another reform which sought to enthrone a market-driven Power sector which led to the unbundling of the sector into Generating Companies, Transmission Company of Nigeria and Distribution Companies of Nigeria.

Yet, epileptic power supply remains unabated with many Nigerians calling for a review of the privatization policy.

The latest call came from a former Governor of Lagos State, Bola Tinubu, who urged the Federal Government to revisit the privatization of the power sector.

Speaking on the development with IATV/IBR News Crew in Ibadan, a professor of Petroleum Economics at the University of Ibadan, Adeola Adenikinju said the call is the way to go.

Adenikinju pointed out that it is imperative to review the policy in order to guarantee optimum power supply.

The don however said an outright reversal of the policy is needless but a review is necessary.

As an interim measure to tackle in the power supply challenge, Adenikinju called for an increase in tariffs in order to provide incentives for producers of power.

She maintained that before the increase, a proper customer enumeration is necessary; especially as the current number power consumers are grossly undervalued.

On the whole, the professor called for the exploration of other sources of power to cushion its' supply to the populace.

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