Fashola Advocates Willing Buyers/Sellers Arrangement in Power Sector

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Minister of Power, Works and Housing, Mr. Babatunde Fashola, has advocated for a “willing buyers and sellers” arrangement in the power sector, saying the arrangement will spur up other investors to invest in the sector and enhance efficiency among operators, The Will reports.

“If there is a willing buyer and willing seller we must allow the economics to take place,” he said. The minister, who spoke at the commissioning of a 220-megawatt unit of the Egbin Power plant in which 100 Megawatts of it is dedicated to Eko Electricity Distribution Company, added; “if Eko can take power and dedicate it to those that can pay a slightly higher cost, it would be a good thing and the electricity regulators should begin to accommodate this type of arrangement”.

“If we agree to this concept and the more of those willing buyers and sellers key-in into the idea, the government would look at their proposals and if there is no element of profiteering contained there in and they are fair economics, it would adjust its own mind set,” he said.

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