No doubt history was made in Nigeria Friday November 1, 2013 when the federal government formerly handed over the Power Holding Company of Nigeria, PHCN to private companies such as DESCOS and GENCOS after prolonged labour issues with PHCN staff were resolved.
Millions of Nigerians who have since look forward to a revolution in the power sector as done by the Obasanjo administration in the telecommunications sector glided with unparallel joy and huge expectations with belief that the very epileptic power supply in the country which has helped to cripple entrepreneurship, small scale industries, the larger spectrum of our economic and social life will soon become a thing of the past.
The expectations are not out of place considering the long years of huge investment and corruption in the power sector that has seen millions of Nigerians pay so much for little, yet past governments had milked both Nigerians and the economy dry in the guise of investing unaccountable trillions in power generation and distribution with no corresponding output.
If words are to be matched with actions, the historical handing over of the power sector to private companies will not just reduce corruption in that sector, but will be a key political point to the Jonathan administration as well as provide the much needed platform for the country’s economic, social and infrastructural growth should the companies improve the age-long electricity problem that has bedeviled the nation.
Even a layman knows that entrepreneurs, small and big business owners will spend less in their production of goods and services if power supply improves, thus having a positive effect on the economy, while more foreign and local investors will consider investing their money in the country.
Sincerely-speaking, the genuine growth and development of Nigeria rests on this tripod: steady power supply, investment in agricultural and genuine fight against corruption.
Nigerians are eagerly waiting to see how DESCOS, GENCOS and others will transform the near comatose power sector into a fully functional one.
Editor- In- Chief
Copyright: Fresh Angle International (www.freshangleng.com)
ISSN 2354 - 4104
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