Nigeria’s power sector is facing mounting concerns as the 10-year privatization process is set to end on October 31, 2023.
The power industry has been plagued with challenges for over 62 years, including liquidity issues, low remittance, metering gaps, poor investment, and transmission inadequacies.
Despite government interventions and loans, the sector continues to struggle, impacting the country’s economy. The signing of the 2023 Electricity Bill is seen as a potential catalyst for change, but proper implementation is crucial.
Experts emphasize the need for decentralization, regulatory institutions, restructuring, and attracting global investors.
The expiration of the privatization framework is seen as an opportunity for the government to review and reposition the industry, focusing on key areas like metering and balancing generation, transmission, and distribution.
