At the office of the Manufacturers Association of Nigeria (MAN) in Lagos, the Chairman, Toiletries & Cosmetics group of MAN, Mr. Ikpong Umoh said that the government must review the privatisation of PHCN and sale of its assets, because it is not yielding any positive results, Vanguard reports.

He said “The government must review the privatisation of PHCN and sale of its assets, because it is not yielding any positive result. The entire privatisation exercise looks like a fraud. The issue of power supply has become hydra-headed. It appears they sold PHCN to their friends and party members, who do not have the technical know-how to run the facilities but only keeps increasing tariff.”

“The monopoly of power companies must be broken. It is only in Nigeria and no where else in the world, that people are compelled to pay for products they are not consuming. The power companies only increase tariff and want people to pay more money without electricity supply. Why should public utilities be sold to individuals who do not have the expertise to manage them? Even after privatisation, the power firms collected billions of naira as bailout funds from government. Let them tell the public what they have done with all the money they collected from CBN.”

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On the disagreement between MAN and DISCOs he said, “The dialogue MAN had with DISCOs several times failed. That was why MAN said sanity must be put into system by taking the matter to court. While the matter is still in court, they must not disconnect MAN’s members. Let DISCOs give people regular power supply and pre-paid meters to measure the level of consumption and consumers will be willing to pay the tariff.”

 

(Source: ENERGY MIX REPORT)