Umeh calls for total privatisation of power sector
The chief executive officer of Century Power Limited Chukwueloka Umeh said the Nigerian government has no business with the nation’s power supply and called for the privatisation of the sector.
“We need to complete privatisation of the power sector and remove the government’s fingers,” Umeh said.
He suggested that the amount the government spent on its collaboration with Siemens should have been channelled towards improving the gas network in the country for private companies to manage power supply.
Umeh said the Azura Edo IPB, which in his opinion is one of the best-financed power assets done in Nigeria, should be replicated in the best interest of the country.
On the privatisation of the power sector, Umeh said, “NNPC’s main work is oil and gas, not power generation we have to privatise the power industry.”
He further said that Nigeria has the financial capacity to make all the necessary improvement in the power sector but lamented that “Some of the money exists in private pockets.”
Umeh urged the Nigerian government to look inward for solutions to its power challenges through smart and knowledgeable citizens in the sector.
“We need these technocrats to help focus the country in doing this,” Umeh said.
Umeh said a strategic partnership between the private sector and public sector will help Nigeria’s quest for sustainable power supply.
He appealed the federal government to make significant investments in the country’s security, educational system and health care system to improve other areas of people’s lives.
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