The Senate recently expressed dissatisfaction with the privatization of the power sector 11 years ago, labeling it a failure due to the ongoing challenges with electricity supply in Nigeria. The Senate indicated potential legislative actions to reverse this policy. The discussion arose during the review of a report by the Committee on Power, which delved into issues such as national grid collapses and their causes.
The Committee Chair, Senator Enyinnaya Abaribe, highlighted various reasons contributing to the grid failures, including aging infrastructure, abandoned projects, regulatory inefficiencies, security vulnerabilities, and financial mismanagement. Despite significant investments in the sector, the report revealed that the grid had experienced 105 collapses in the past decade, leading to substantial costs in restarting power plants.
The report emphasized the urgent need for modernizing the outdated national grid to align with current operational standards. Abaribe also pointed out other critical concerns like operational inefficiencies, regulatory gaps, and the absence of essential monitoring systems. The debate further criticized the privatization policy, with Senator Adams Oshiomhole describing it as exploitative and burdensome for Nigerians.
Senator Abdul Ningi added that the lack of accountability in the power sector has perpetuated its inefficiencies, stressing the importance of imposing sanctions for lapses. After thorough discussions, the Senate postponed the report’s consideration and granted the Committee on Power an additional six weeks to conduct a comprehensive investigation and propose further legislative actions.