Power Investors Lack Relevant Financial, Technical Capacity – Trade Union


Electricity workers under the umbrella of Senior Staff Association of Electricity and Allied Companies (SSAEAC) have described the privatization of the power sector by the Federal Government as a big mistake, indicating that public private partnership (PPP) remained the best option for the sector as government intervention was still very relevant to the sector.

Chris Okonkwo, President-General, SSAEAC, stated this at the weekend when he spoke with newsmen at the inauguration of their secretariat building in Benin City, Edo state, describing the buyers as portfolio investors who lacked the financial capacity and the technical know-how to manage the sector after purchasing the relevant assets.

Okonkwo who also accused the distribution companies (DISCOs) of fraud against Nigerians by holding onto 100 per cent for 60 per cent of shares bought by DISCOs, further described the privatization of DISCOS as a trial policy, stressing that government never got to the right point to have done it. He stated that the fallout of not doing it well was what Nigerians are experiencing today in terms of poor power supply.


(Visited 45 times, 1 visits today)

Powered by Nextier