In Defence of Minister Fashola
When I heard the DisCos say that they want to quit; resell the firms at discount, it is not only funny, but childish. When they took over the 11 successor companies, they were monies left in the account of these companies: I stand to be corrected or proved wrong! How much did they inherit? And […]
When I heard the DisCos say that they want to quit; resell the firms at discount, it is not only funny, but childish. When they took over the 11 successor companies, they were monies left in the account of these companies: I stand to be corrected or proved wrong! How much did they inherit? And what did they use the monies for?
In his write up in the Daily Trust, Thursday, August 9, 2018 by Ibrahim Aminu entitled: “Issues in the Nigerian Power Sector”, he said: “Recall that the core investor for Yola DisCos had paid $59 million dollars for 60% equity in the company. Then imagine whether the Federal Government can meet the payment demands of ten DisCos if arbitration and / or Court adjudication goes in their favour”. At least; at this juncture, I will advice Mallam Aminu not to cross the bridge, until he has come to it – after all, “The Court is not a Father Christmas” isn’t it? It may interest the reader to note that the total assets of the defunct PHCN, was put at over N2.5 trillion, but was auctioned below half a trillion naira, if I may ask: Who is fooling who?
Due to the inexperience nature of the faceless investors, coupled with their desire to make quick money without any tangible investment to back it up, they have carried out all manners of innocuous experiments with the companies, including sacking of over 25,000 members of staff. Infact, one might not be far from being right, if he says that the managers of the DisCos are not only in quagmire, but have ended up in a labyrinth situation! The DisCos cannot even provide ordinary meters to its ever increasing customers, five years after taking over, but, keen on giving outrageous “Crazy bills”.
I have been one of the ardent critics of Fashola, but, today, I am on his side because he have spoken the naked truth and the mind of fellow Nigerians on the comatose, obnoxious, terrible and sorry state of power supply in Nigeria. In “my open letter” to the minister, interalia, in Daily Trust, Thursday, October 19, 2017 I advised the Minister on range of issues including setting up of a Special Task Force made up of seasoned, experienced industry engineers/technocrats; especially, some of the forcefully disengaged ones by the DisCos. This will help in fortifying our comatose near collapse 33/11 KV of over 4,000KM distribution network spread across the nooks and crannies of this country.
I also learnt recently that the Federal Government has made available the sum of N72 Billion to re-strengthen the distribution network- but, that the money will be channeled, disbursed and supervised by the management of the Transmission Company of Nigeria (TransisCo). If I may advice the minister, I am of the opinion that the TransisCo cannot be able to manage the distribution network effectively and efficiently; because, they too are having their own nagging problems managing their own 330/132KV haggard looking network across the country- including Benin and Togo Republics which we supply electricity. A different Task Force under your Ministry’s (supervision), with distribution experience should manage the fund, coupled with the fact that the fund made available is a far cry from what is needed for the job. At least, it is a possible development indeed! Kudos to you.
Conclusively, it is high time to get a new breed of licensees, serious minded, with professional; technical and financial where-withal , coupled with power industry experience to do the job- the business of illuminating the country is too sensitive to be left in the hands of the present mediocres.
U.S Ladan (Snr), Abuja