A Professor of Economics, Sheriffdeen Tella, has called on the Federal Government to deregulate the power sector as opposed to the current privatization regime in the sector. He made this call on Wednesday while fielding questions when he featured at The PUNCH Forum held at the PUNCH Place, Magboro, Ogun State. The don likened the current regime of privatization as “just putting money in some people’s hands.”
The sector was privatized by the President Goodluck Jonathan administration with 11 electricity distribution companies and six generation companies handed over to core investors on November 1, 2013. The Transmission Company of Nigeria, which manages the national grid, is still fully owned and operated by the government. On July 2015, the Federal Government took over Yola Electricity Distribution Company following the exit of the core investor.
Tella advised that by deregulating the power sector just as it did in the telecommunications sector, private investors would be able to generate power and sell to whoever could buy it. He said, “The government should deregulate the power sector, just like it did with the telecommunications sector. Individuals should be allowed to generate power and distribute to the people and industries. The current privatization is just like putting money in some people’s hands.” The don, who is a former Vice-Chancellor of the Crescent University, Abeokuta, equally attributed the slow pace of economic development in the country to a lack of long-term national plan by successive administrations.