Post-privatisation Blues Inevitable in Power Sector, BPE Insists

 

              Director General of Bureau of Public Enterprises (BPE), Mr. Alex Okoh

The Bureau of Public Enterprises (BPE) has said the current challenges in Nigeria’s electricity sector were consistent with a market that had been privatised. It assured the sector will eventually pull out of the situation to become productive.

The Director General of BPE, Alex Okoh, said this at a meeting with the House of Representative Committee on Privatisation and Commercialisation in Abuja.

A statement from BPE’s spokesperson, Amina Tukur Othman, explained that the meeting had in attendance representatives of power generation companies (Gencos) as well as distribution companies (Discos) in the country, as well as the Nigerian Bulk Electricity Trading Plc. (NBET).

According to the statement, Okoh, equally stated that the Power Sector Recovery Programme (PSRP) which the federal government initiated with the World Bank, was robust enough to ensure viability of the power sector.

He explained the PSRP would also manage the liquidity issues militating against the sector.

Okoh, however noted that optimising the potential of the PSRP would be largely reliant on a simultaneous effort from all parties involved in the privatisation process as well as regulatory bodies like the Nigerian Electricity Regulatory Commission (NERC).

Speaking further, during the meeting which centered on proffering solutions to the challenges affecting the performance of the Gencos and Discos, Okoh noted that the Nigerian power privatisation transaction was the biggest of its kind in the entire continent, saying post transaction challenges were inevitable.

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