Senate Gives Committee Six Weeks To Fix Nigeria’s Power Sector Woes

The Senate Committee on Power has been given six weeks to develop improved recommendations concerning the non-functionality of Nigeria’s electricity distribution companies (DisCos) and the Transmission Company of Nigeria (TCN).

The Senate had expressed displeasure at the performance of DisCos and TCN since the privatization of the power sector, describing it as a failure.

The Red Chamber of the National Assembly threatened to initiate legislative measures to reverse the policy.

Senator Eyinnaya Abaribe, chairman of the Committee on Power, submitted a report highlighting the financial losses incurred each time the grid collapses.

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According to him, restarting a power plant costs approximately $7.5 million, with the total cost per grid collapse amounting to $25 million.

The Senate President, Godswill Akpabio, criticized the privatization of the power sector, questioning its efficiency. He noted that despite privatization, distribution companies are unable to meet consumer demands, leading to deteriorating service quality.

On his part, Adams Oshiomhole (Edo North) expressed regret over his earlier support for privatization, describing the process as ill-conceived and ill-executed. He lamented the fact that consumers are forced to pay for services not rendered.

The motion was subsequently withdrawn to allow for actionable and comprehensive recommendations. The Senate Committee on Power was given six weeks to develop improved recommendations to address the power sector’s challenges.