The Council on African Security and Development, a research-driven body of experts and academics, has said that most private investors in the successor companies of the defunct Power Holding Company of Nigeria have very limited idea of how to efficiently run the electricity firms they acquired, The Punch reports.

According to the council, Nigeria’s electricity industry is performing poorly, because those who invested in the country’s power assets lack the technical expertise, funds and passion to take their ventures to the next level. The Director, CASADE, John Ifediora, also added that energy poverty was the major factor that was scaring investors away from Nigeria.

Commenting on CASADE’s view about the lack of adequate sectoral knowledge by investors, a Senior Partner at Nextier Power, a power consultancy firm, Mr. Emeka Okpukpara, attributed the knowledge gap in the sector to lack of information and data availability.