23 January 2013

Nigeria: Ex-Anan Boss Expresses Doubt Over Power Sector

Nigerians shouldn't expect much from the power sector due to the way the assets of the Power Holding Company of Nigeria (PHCN) was sold to investors, former President of Association of National Accountants of Nigeria, Dr. Samuel Nzekwe, has said.

He told our correspondent in a telephone chat yesterday that the recent privatization of the power company was designed to favour some loyalists of the government rather than bringing in competent companies.

He said the fact that workers of the PHCN are still at loggerheads with the federal government over their severance pay leaves much to be desired of a power programme that would improve supply and bring succour to Nigerians.

He also said Nigerians are confused of the direction of the power sector reform and other economic programmes of the current government.

He urged President Goodluck Jonathan to explore means of correcting the ills afflicting the sector.

He said fixing the sector would have multiplier effects on the economy.

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