The Honorary Adviser to the President of Dangote Group, Engr. Joe Makoju, has advocated for more funding and restructuring of the power sector to achieve relative stability in electricity generation and distribution.
He said the power sector is currently bankrupt to the point of threatening the health of financial institutions and the wider national economy. Majoku also advised on how to restructure the sector for effective services. He stated that a good way to do that is by lessening the franchise zones of the distribution companies.
Majoku, who is also a special adviser to three different Presidents on power, spoke at a two-day power sector stakeholders’ interactive dialogue, convened by the National Assembly in Abuja. He painted a fundamental structural change as against the current path of tariff increases and government bailouts.
“I am not an alarmist, but if we continue on the current path of tariff increase and bailouts without fundamental structural changes, we will soon be dealing with a disaster,” Majoku said.