Power sector privatisation has failed – Saraki

RECESSION: Saraki calls for sale of national assets

Senate President Bukola Saraki has faulted the model through which the power sector is being operated in Nigeria, blaming the privatization process as the cause of the power sector’s poor performance.

Saraki speaking at resumption of plenary by the Senate on Tuesday, said his consultations on the crisis in the power sector before the Senate went on recess convinced him that the present structure in the power sector will not resolve the crisis in the sector.

He listed the model adopted for operation by the electricity generating and distributing companies as one of the major errors in the privatization of the power sector.

The Senate President expressed concern that nobody is willing to tackle the crisis in the power sector in order to find a permanent solution to it.

He further said: “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.

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