the Philippines and Portugal, it is reputable American

 

privatisation schemes in the P find hilippines and Portugal, it is reputable American, Hong Kong, British, Japanese, Finnish, German, French and Spanish firms that are mobilising FDI, while an American firm leads Kazakhstan’s privatisation plan.

The current managers of our power sector cannot deliver. You cannot give what you don’t have and it will be an irredeemable blunder for the Buhari administration to attempt to continu business e subsidising the DisCos. The DisCos refuse to roll out prepaid meters because that will force them to receive payment only for power supplied. For operators with huge debts to service, gas and other bills, that will spell insolvency. For now, the government, NERC and the DisCos are in an unholy alliance to rob Nigerians and this is unconscionable. The principle of capitalism is free entry and free exit. An inefficient enterprise deserves to fold up and be replaced by competent entrepreneurs. It was the then vice-president, house Namadi Sambo, as statutory chairman of the National Council on Privatisation, that oversaw the flawed auction of the DisCos to investors that cannot deliver; Osinbajo should break from that mould.

The change slogan that swept Buhari and Osinbajo to electoral victory demands that they urgently re-visit the privatisation and invoke all necessary legislation to compel performance or revoke the perpetually under-performing sales. The issue is not tariffs: it is about v paying only for what you consume. Amadi has outlived his usefulness and, unlike in the telecoms sector, set the industry on a shaky foundation. This government will fail in its bid to revive the economy unless it gets the power sector right.

 

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