HomeBusinessHow Nigeria Can End Its Power Crisis After Failed Privatisation

How Nigeria Can End Its Power Crisis After Failed Privatisation

Published on

Nigeria has been struggling with a power crisis for years, despite spending billions of dollars on subsidies for the electricity sector. The country faces frequent blackouts and poor service delivery, as the private investors who took over the generation and distribution companies in 2013 have failed to meet their obligations and expectations. The government has also been criticised for not providing a clear and consistent policy and regulatory framework for the sector.

Experts and analysts have suggested various ways to address the power crisis and improve the efficiency and sustainability of the sector. Some of these include:

  • Reviewing the privatisation contracts and holding the private operators accountable for their performance and commitments.
  • Empowering and equipping the Nigerian Electricity Regulatory Commission to enforce standards and rules and protect the interests of consumers and other stakeholders.
  • Increasing the use of renewable energy sources such as solar, wind and hydro to diversify the electricity generation mix and reduce the dependence on gas and diesel.
  • Upgrading and expanding the transmission and distribution networks and reducing the losses and theft of electricity along the value chain.
  • Promoting off-grid and mini-grid solutions to provide reliable and affordable power to rural and underserved areas that are not connected to the national grid.
  • Adjusting the electricity tariffs to reflect the true cost of service and eliminating the subsidies that create market distortions and inefficiencies.
  • Improving the governance and transparency of the sector and ensuring accountability and participation of all actors.

These measures, if implemented effectively, could transform the power sector and boost the economic and social development of Nigeria. The country has the potential to become a regional leader in the energy sector if it can overcome the current challenges and harness its abundant resources.

Source: The Guardian Nigeria

Latest articles

14 Nigerians Wanted by INTERPOL for Drug, Human Trafficking

INTERPOL on Wednesday released a wanted list of 14 Nigerians accused of crimes from human trafficking to drug smuggling and fraud.

Atiku Won’t Be President in 2027, It’s South’s Turn – Doyin Okupe

Former presidential spokesman, Doyin Okupe, has stated that the South must serve its eight years as president before the North can come back again

CDS Reaffirms that Nigerian Borders Won’t Be Used for Attacks

Nigeria's borders will never be used for attacks, CDS Gen. Musa assures, promises security collabo with neighbors.

Wike Defends Record Amid Criticism From Omehia, Secondus

Nyesom Wike rebuts allegations from Omehia and Secondus, emphasizing his contributions to Rivers and ongoing leadership as FCT Minister.

More like this

14 Nigerians Wanted by INTERPOL for Drug, Human Trafficking

INTERPOL on Wednesday released a wanted list of 14 Nigerians accused of crimes from human trafficking to drug smuggling and fraud.

Atiku Won’t Be President in 2027, It’s South’s Turn – Doyin Okupe

Former presidential spokesman, Doyin Okupe, has stated that the South must serve its eight years as president before the North can come back again

CDS Reaffirms that Nigerian Borders Won’t Be Used for Attacks

Nigeria's borders will never be used for attacks, CDS Gen. Musa assures, promises security collabo with neighbors.