Review power privatisation contracts, former NIEEE boss urges Buhari



Buhari: Energy still Nigeria’s headache

Mr Emmanuel Akinwole, Former National Chairman, Institute of Electrical and Electronic Engineers (NIEEE), has appealed to President Muhammadu Buhari, to review the power sector privatisation agreement to resolve the problems in the sector.

Akinwole told the News Agency of Nigeria (NAN) on Sunday in Lagos that the previous privatisation contract was a bad business proposal that could not work.

He said the slow success in the sector was due to the faulty privatisation procedure and had nothing to do with the appointment of Mr Babatunde Fashola as a minister.

Akinwole, who is also a procurement expert, said that the best solution to bad contract agreements were usually a review, adding that, managing the bad agreement would only compound problems.

He said the Buhari government had utilised the first term to understand the problems in the sector and this time, the government should interact with all power sector stakeholders to evolve a solution strategy.

“I am a procurement expert to World Bank standard, the regulation says if you realise there is a bad contract, what you need to do is renegotiation.

“If after you entered the contract, you now see the facts you did not see before, you have to rearrange it, so that there is a win, win situation.

“That is why we are challenging government that it has identified the problems in the last four years, the reasonable option now is to call the other parties and review the solution options,’’ he said.

He stressed the need to urgently renegotiate the contract to steadily improve power in the country.