Privatisation no excuse for poor funding of power sector – Reps

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patrick-ikharialeChairman, House Committee on Power, Patrick Ikhariale at the weekend advocated for increased funding for the power sector despite the Federal Government’s privatisation of 15 successor companies of the power Holding Company of Nigeria (PHCN).

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Ikhariale who led his committee members on oversight function to the Nigeria Electricity Regulatory Commission (NERC) and the National Power Training Institute of Nigeria (NAPTIN), noted that the power sector has become the engine room of the nation’s economy.

He explained that if the country could get its electricity challenge sorted out, over 70 percent of the social problems bedeviling the country would be solved.

He said: “The power sector has become the engine room and very pivotal to the development of the nation’s economy. It is line with this that members of the committee and by extension the National Assembly have being showing sufficient understanding in ensuring that the President’s transformation agenda, particularly the power sector road is achieved.

“We are all living witnesses to the fact that as we speak today the power sector is going through some transformation. Privatising the power sector is one sure way that we all believe we can meet the required levels of generation, transmission and distribution.

Until we are able to do that which is necessary to enhance the generation, transmission and distribution, the Nigerian economy, I am afraid will not get off the ground. We have agreed that if the power sector is fixed 70 percent of the socio-economic problem would have been reduced to the barest minimum”.

He noted that poor funding of the sector in the current budget has not helped the agencies involved in the operation of the sector, positing that controversy over fund allocation for the sector would persist during the planning for next year’s budget.

“More than anything else we all need to work together to grow the sector but again we might be heading for another controversial budgetary year particularly whether money should be spent, released or budgeted for in the power sector.”

 

 

[Daily Independent]

Babatunde Akinsola
Babatunde Akinsolahttps://naija247news.com
Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

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