Vice President Osinbajo yesterday open up on the failure of both Disco and Genco’s, Years after privatization, the power sector has failed to deliver the desired result, the Federal Government said yesterday.
Vice President Yemi Osinbajo, who delivered the verdict, spoke of other options to re-engineer the sector for effective power supply to meet domestic and industrial needs of Nigerians. He was not specific on the options.
Prof Osinbajo laid it bare in his May Day address to workers at the Eagle Square in Abuja. He said the government was not happy that several years after the sector was privatised, it has failed to deliver.
The Power Holding Company of Nigeria (PHCN) Plc. was unbundled in 2013 during the administration of Dr. Goodluck Jonathan. It was to allow for private sector involvement in the generation and distribution of power.
The vice president, who represented President Muhammadu Buhari, said the government was “strongly committed to changing the narratives” in the power sector.
He said: “Today, that sector, after it was privatised, still remains stalled in delivering power to many Nigerian homes and businesses.
“We must act as a matter of national importance and we are committed to doing so, to work and re-engineer the sector for much more effective performance. Workers shall be called upon to play a greater role in supporting the government to attain all these goals.”