The federal government said the power sector privatisation has not delivered the envisaged benefits as the sector is struggling with challenges such as “market inefficiency, structural misalignment and central coordination issues, among others.”
The Minister of Power, Engr. Sale Mamman spoke in Lagos at the top management retreat for Directors, Heads of Units, Chief Executive Officers of agencies and parastatals.
He said the privatisation was done with the hope of unlocking investments and improving service delivery in the sector.
“This was the case when this administration took the reins of the country as well as when I took the oath of office. However, it must be said that the exercise has not delivered the benefits envisaged,” he said.
Mamman said other challenges bedevilling the sector include indiscipline within the market as well as contract ineffectiveness and abandoned or stagnated projects.
To address this, he said the ministry initiated five key areas of focus “in order to take corrective steps to reposition the sector to a path of sustained growth as envisaged by the sector reforms.”
He, however, charged all departments, units and agencies to work together and “support the administration’s ambition with a strong institutional platform that can effectively deliver on these lofty ambitions.”
Minister of State for Power, Goddy Jedy-Agba said the ministry and agencies have “been more seriously challenged to continue to improve in providing a stable power supply to the citizenry.”
He said President Muhammadu Buhari acknowledged the improvement recorded in the power sector in recent times.
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