Power Sector Reform: LCCI foresees stable electricity power

LCCI_LOGO-293x300The Lagos Chamber of Commerce and Industry (LCCI) recently applauded the progress made so far on the privatisation of the power sector as the chamber foresees a stable electricity power in the country.

The Council stated this through a communiqué signed by its Director General, Muda Yusuf that the recent handover of the Distribution Companies and Generating Companies to private sector investors is a good development.

According to the council it hoped that with the milestone achieved, the country will begin to witness an improvement in the power supply. Meanwhile the Council also expressed concern over the protracted labour issues in the privatisation process and urged the government to expedite action on the resolution of the labour issues.

The Council reviewed the industrial relations issues in the education and the health sectors. On the prolonged ASUU strike, the Chamber frowned at the strike and the commencement of another round of strike by the Association of Resident Doctors.

It added that recurrent strikes have very negative implications for the development of Human Capital which will invariably take its toll on the Nigerian economy. It therefore implores government to improve its management and communication processes in order to avert the current trend of recurring strike actions.

The Council also appeals to all stakeholders in this issue to embrace the spirit of dialogue and compromise in the interest of the citizens and the Nigerian economy. On security situation in the country, the Council was disappointed by the recent killings of students in the North Eastern State of Yobe and notes that persistent attacks and threats to security of lives and properties calls for a review of current strategies to protect law abiding citizens.

It, however, commended the efforts of government so far in dealing with the security issues but request that the strategies be consistently reviewed to reflect the dynamics of the situation.

It noted that the security situation in the country is already undermining investors’ confidence in the Nigerian economy.

 

Information from Leadership was used in this report.

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