Nigeria: Power sector illegally sold

Jun 01, 2016 12:00 AM

The Federal Government and labour agreed yesterday that the power sector was illegally privatised but they differed on how to redress the "illegality."

Labour leaders are demanding for the cancellation of the sale and reversal of 45 percent increase in tariff effected in February.

However, the government said though it agreed the deal was fraudulent there were legal issues that might make it impossible to reverse the sale.

Speaking at a Senate public hearing on the electricity tariff yesterday, Minister of Power, Works and Housing, Babatunde Fashola, said government's interests were illegitimately sold to some private businesses.

"As a minister, I inherited a power sector where government's interests have been illegally sold and, therefore, I don't control how power is distributed."

On the electricity tariff increase, the minister said that the tariff could not be reversed.

"The DISCOS made it very clear to us that if we did not give them the market reflective tariff it means that government would have to carry the continuing cost that accumulated in the region of about a trillion naira."

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