NERC calms investors fears over reversal of power privatisation

The chairman of the Nigerian Electricity Regulatory Commission (NERC), Dr Sam Amadi, has restated his unwavering commitment to the on-going privatisation of the power sector, saying he does not entertain any fear that the privatisation could be reversed, Leadership reports.

Amadi, who reassured investors, both within and outside the country, of the regulator’s commitment to drive the reform process to a conclusive end, said the NERC believes in the sanctity of the sectors privatisation.

While reacting to reports suggesting that the president-elect, General Muhammadu Buhari, can cancel power privatisation, the regulatory agency in a statement issued yesterday said, “The spirit and intent of establishing the commission remains the implementation of the Electric Power Sector Reform (EPSR) Act 2005″.

Amadi had during an interview with journalists in Abuja stated that although the privatisation is not the problem of the sector, the new government has a responsibility “for making policies in which case it can change existing policy, review existing policy or vigorously pursue existing policy.”

He added further that from his understanding of the two political parties, their policies are in line with the framework of the National Electric Policy issued in 2000 by the PDP-led government which is clearly premised on privatisation and securing the financial viability of the sector as a way of improving power supply by sustaining investment.

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