House of Representatives Speaker, Yakubu Dogara has canvassed a rethink of Federal Government policy to privatise power companies in the country. Speaking during a public hearing on the need to halt plans to raise a Federal Government Secured Bond of N309 billion to finance the shortfall in the Nigerian Electricity Market (NEM).
The said it was necessary to take a holistic look at the ongoing privatisation policy of the government. Lawmakers have been troubled by the desire by government to raise the bond for NEM.
According to Dogara, “For the benefit of the average Nigerian, a market shortfall is defined as the invoiced amount of electricity transmitted to the distribution companies (DisCos) in any given month less the amount remitted by the DisCos to pay the market participants for electricity supplied”