Sell your shares to attract more investments into power sector, expert urges FG

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An expert in the energy sector, Mr Oluwaseyi Gambo, on Tuesday urged the Federal Government to sell its 40 per cent shares in the sector to attract more investments there.

Gambo, a former National Public Relations Officer (PRO) of PENGASSAN, gave the advice in an interview with the News Agency of Nigeria (NAN) in Lagos.

He said that government was keeping 40 per cent shares in some of the Distribution Companies (DISCOs) when they were sold to investors in November 2013.

According to him, these companies were privatised because the government could not run them efficiently, so holding a large share in the companies is not the answer.

“The government should sell their shares in order to bring in the much needed capital that many of the companies need to function.

“This will generate more investment in the sector and save it from the mess the power sector is presently passing through.

“This will also lead to an improvement in electricity supply nationwide and encourage the needed infrastructure development,” he said.

Gambo urged the Nigerian Electricity Regulatory Commission (NERC) to increase its activities in market enforcement.

“The regulator should ensure that all those licensed in the market perform their functions as they should.

“That is, generation companies should generate; transmission companies should transmit while DISCOs should distribute and collect the associated revenue.

“If we all pay our bills, then everyone in the chain will get paid and investments get made and the lights stay on,” he said. (NAN)

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