The Federal Executive Council, FEC, has advised the incoming administration of General Muhammadu Buhari not to contemplate reversing the privatisation of the power sector.
Reversing the privatisation of the power sector, the FEC warned, would be counter-productive to the nation’s reform process in the sector.
The Minister of Power, Prof Chinedu Nebo, gave this advice at the Aso Rock Presidential Villa on Wednesday while unfolding a new draft National Policy on Renewable Energy and Energy Efficiency (NPREEE) at the end of the weekly meeting of the FEC, which was presided over by President Goodluck Jonathan.
The in-coming Buhari-led government, the FEC reasoned, would be ill advised as to tow the path of reversal as that would automatically translate to stoppage of the current inflow of foreign investments in the electricity power sector.
According to Nebo, “On privatization, I think the incoming government will be ill-advised to reverse privatization and liberalization of power generation, transmission and distribution because any attempt to do that would be to set Nigeria back many decades.
“The gains of privatization are very obvious. If we can solve the problem of gas like we are talking about energy mix, we are not just going by gas we are doing hydros.
“It was this same administration that flagged off Zungeru hydro power plants for 750 megawatts and is a bid to flag off Mambilla 3,050 megawatts, Shiroro has been improved, revamped, Kanji revamped and improved, the same as Jebba.
“So there is a lot of work being done by the government.
“However, to turn back on privatization would mean stopping all of these companies and then reversing the massive inflow of investments coming into the power sector.
“Nigeria’s power consumption per capita is one of the lowest in the world and that is in spite of the efforts of government to reverse that.
So, I don’t think it is in the best interest of the country”, the Minister said.
The draft policy, which aims to increase access to electricity using renewable energy mix; creates new business opportunities and new jobs; support global efforts towards green economies and address climate change problems, according to Nebo, was approved by FEC..
The policy will also promote and encourage efficient use of energy and energy conservation in Nigeria, said Nebo.
The Power Minister explained that it was part of government’s efforts to improve electricity supply in the country aside of privatisation of the power plants.
Nebo insisted that any attempt by the incoming administration, after May 29th, to reverse the power sector privatization deal, would drag the nation backwards by several years as the reform in the sector has progressed to the point that only adequate gas supply remains the major stumbling block.
The Minister however recounted his frustration over the sabotage inflicted on the country by evil-minded vandals who ceaselessly and needlessly damage oil and gas pipelines to the detriment of their fellow countrymen.
While tendering government’s apology for the incessant blackouts nationwide, the Minister stressed that some “demon-possessed” Nigerians have been responsible as the vandals make little or no financial gains from their activities which cost about N120million every month to repair.
Many turbines at the power plants, the Minister said, have been idle because of lack of gas caused by the mindless vandalism, while the power generating companies have been operating at about 30 per cent of their installed capacity.
He however noted with regrets that but for the continuous vandalism, electricity supply in the country could have significantly improved as power generation had attained about 5000 megawatts, the minister said.
His words, “Yes, these evil forces inhabit human beings. Can a sane human being go and bust pipelines that is bringing gas to power stations? Stopping the industries from working, manufacturers cannot work, governments cannot work even hospitals cannot work. Can a sane person do it without demon possession?
“These people are possessed. That is the extent of depravity that will lead people to punish their country the way these hoodlums are doing,” he asserted.
Speaking on the new draft policy on renewable energy, the the Power Minister, who was accompanied by his counterpart in the Information Ministry, Senator Patricia Akwashiki, pointed out that remote areas not connected to the national grid stand to benefit immensely.
Nigeria, he pointed out, was blessed with several sources of energy like biomass, wind, hydro, solar; and it has become necessary to address optimal use of these resources as has never been done by past policies.
The Minister however advised on proper lighting, disclosing that one-third of power used in the country is wasted by use of inappropriate light bulbs.
He suggested use of LED bulbs which can save the country up to 1,200 megawatts of electricity