BPE says FG considering options for rescuing electricity industry

The Federal Government is considering a number of options, including cost-reflective tariffs and injecting new investors into the electricity distribution and generating companies so as to revive the firms, the Bureau of Public Enterprises has said.

The Director General, BPE, Mr Alex Okoh, said this in an interview with journalists during the presentation of certificates to participants in a workshop on anti-bribery and anti-corruption facilitated by the Director of Malkara Consulting, Australia, Mr Chris Douglas.

Okoh said the options under consideration by the government included the proposal to dilute the investment of the current core investors in the power companies by bringing in new investors as well as increasing tariffs to enable the operators to recover costs and invest in new equipment.

The BPE boss also stated that 36% of the public enterprises that had been privatised by the agency had not lived up to expectation, adding that those enterprises would be reviewed so that they could be helped to do better. However, Okoh ruled out the possibility of going back to review any transaction that had been concluded in the past except for any glaring case of abuse of process.

Source: The Punch

 

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