Published 2024-05-05
Keywords
- Assessment, Decade, Post-Privatization, Nigeria.
Abstract
Power infrastructure deficit resulting into incessant power outage have been hampering Nigeria’s development journey since independence in 1960 till date. As part of effort to resolve the problem in the power sector, Nigerian government initiated a power sector reform in 2005 and started the privatization scheme in the power sector to solve the problems of inefficiency and mal-administration in the sector, limited access to power, low generation, inadequate capital and excessive government interference bedeviling the sector. Privatization of the power sector was undertaken on the premised that free market and competition associated with privitization would bring about efficiency, injection of capital and increase private investment that would result in better performance and increased access to power by the citizenry, thereby enhancing industrialization, economic growth and development of the country. On the contrary, post-privatization electricity supplies across Nigeria indicated little or no improvement and the problems confronting the power sector is far from being resolved despite the privatization exercise that was carried out in the sector in 2013. The paper assessed and appraised the performance of the power sector after the privatization exercise between 2013 and 2023 using qualitative cum descriptive approach, and content analysis method, and concluded that privatization is yet to realize its targets and objectives in the power sector-a decade after scheme commenced. In view of this, the paper recommended commercialization of electricity through the application of appropriate billing method and charging normal tariffs on consumer thatshould reflect market condition, mass metering of users, diversification of power generation to increase the current level of generation in the country, as well as increased investment in transmission and distribution infrastructures to ensure adequate evacuation of generated power to end users, thereby enhancing power supplies to the citizenry