Consumers Demand Audit of Nigeria's Power Sector Privatization

Consumers in Nigeria are calling for a comprehensive audit of the power sector privatization that took place in November 2013, which aimed to improve efficiency, attract investment, and boost electricity supply. The privatization involved the distribution arm of the Power Holding Company of Nigeria (PHCN), with the Federal Government retaining ownership of the transmission arm.

However, consumers have expressed dissatisfaction, claiming that the privatization has worsened electricity supply issues. They argue that the Federal Government should conduct an audit to identify and address the flaws that have contributed to the ongoing power supply deficit.

The article highlights that the distribution companies (Discos) are financially troubled, with debts amounting to N6 trillion, and have been unable to remit adequate payments to generation companies (Gencos). The Minister of Power, Adebayo Adelabu, acknowledged that public power supply facilities provide only about 5,000 megawatts daily, while the country needs approximately 50,000 megawatts.

The call for an audit is seen as crucial to resolving the financial challenges plaguing the power sector.