There are indications that the Federal Government may in the coming weeks take punitive measures over the operating licences of some power distribution, (DisCos) and generation (GenCos) companies.
It was gathered that this may not be unconnected with the poor performance by some critical stakeholders in the value chain.
While President Muhammadu Buhari had recently terminated the appointment of the minister in charge of power, appointing Abubakar Aliyu to act as the new minister, Nigeria’s power sector has failed to perform years after privatisation, as the level of power supply to homes and industries stagnates at about 4,000 megawatts, (MWs).
Aliyu, yesterday, in a document made available to newsmen in Abuja, said plans are underway to decide on the fate of the sector.
Coming at a time the President of African Development Bank (AfDB), Akinwunmi Adesina, blamed the nation’s energy sector for the sorry state of industrial development, Aliyu said, specific areas of conflict and tensions within the power industry value chain are being harmonised for greater synergy, which would bring about a wholesome alignment of responsibilities within the governance system of the power sector.
Adesina had, on Tuesday, said the lack of reliable power supply was affecting the growth of industries in the country, while speaking at the 49th annual general meeting of the Manufacturers Association of Nigeria, (MAN), in Abuja.
Quoting a report by the International Monetary Fund (IMF), he said the country loses $29 billion yearly, which is about 5.8% of its Gross Domestic Product (GDP) due to a lack of reliable power supply, adding that Nigerians spend $14 billion yearly on generating sets and fuel.
