‘Millions of Nigerians Pay for Darkness’: Analyst Reacts to Power Sector Receivership Crisis

The ongoing receivership crisis in Nigeria's power sector has raised concerns about the country's privatisation model. The receivership of key electricity distribution and generation companies, including Ikeja Electric and Egbin Power Plc, has left millions without stable power supply.

While FBN Holdings denied being in receivership, policy analyst Lekan Olayiwola warned that the crisis goes beyond legal and financial processes. Olayiwola highlighted the root problem of high-interest commercial loans that have led to the current situation.

He suggested reforms to protect vulnerable households, ensure a minimum service obligation, and expand decentralised solutions. Drawing global examples, Olayiwola pointed out successful models in countries like Rwanda, Morocco, Brazil, Indonesia, and Colombia, where electricity access is linked to national development priorities.

The crisis underscores the need for a more sustainable and inclusive approach to the power sector in Nigeria.