Allowing Market Forces to work in Nigeria's Energy Sector
Mutiu examines Nigeria's power sector, cutting out the noise, by going back to the soul of market dynamics: demand and supply. He posits that the time for blame game should be over. How can you have opportunities in a sector and yet no one wants to put money to win it? People – enough of the blame game in our power sector, let markets take over.
The position of experts remains that Nigeria needs about $20 billion to revamp the power sector. To the civil society organisations, capital is not the problem of the sector, but the corruption which has been the main reason for having Nigerians and businesses in darkness while paying for the price. Is privatisation not supposed to reduce the corruption if total elimination is not possible? Like other private businesses, companies in the sector are expected to deploy their processes for sustainable value delivery and competitive differentiation, while assets and competencies should be used as drivers of profitability.
Source: World Economic Forum, 2018; Newspapers’ Reports, Infoprations Analysis, 2019