Business Buhari Set to Review Privatization of Power Sector

Discussion in 'Business News' started by Lequte, Oct 12, 2017. Views count: 1376

  1. Lequte

    Lequte Scientist Curators

    The federal government has hinted on reviewing the privatization of the nation's power sector.

    On Thursday, President Muhammadu Buhari insinuated that the privatisation of power plants in the country would soon be reviewed to enable government restructure their ownership and capacity to deliver value to the people.

    Speaking at the closing of the 23rd Nigerian Economic Summit, NES in Abuja Buhari hinted that the review would involve the restructuring of the ownership of the power plants to ensure that owners who do not demonstrate sufficient capacity to operate the facilities cede their stakes to new investors.

    Represented by the Minister of State for Budget and National Planning, Zainab Ahmed, Buhari said this was to open up the sector for new investors to bring in fresh capital to make the plants more functional.

    He said negotiations would commence with power generation companies, DISCOs where the country is having the most difficulties in ensuring adequate power supply.
     

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