Mogaji Arisekola, an Ibadan-based businessman and publisher of The Street Journal magazine, has called on President Bola Tinubu to dissolve the management of Electricity Distribution Companies (DisCos) in Nigeria.
Arisekola urged the Federal Government to reconsider the privatization of the power sector, citing the poor performance of current owners who, according to him, have failed to make significant contributions to the sector in the past 11 years.
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The vocal public affairs analyst and the national chairman of the Association of Online Media Practitioners in Nigeria (AMPCON), accused the current owners of misleading the government with their policy implementations and strategies, leading to the deterioration of the power sector and the financial strain on Nigerians.
Speaking to reporters in Lagos alongside members and executives of AMPCON, Arisekola emphasized the urgency of the situation, stating that Nigeria cannot afford to continue accommodating individuals who are responsible for providing inadequate electricity services.
He emphasized the need for a complete overhaul of the management of DisCos to attract new investors who are committed to improving the infrastructure and efficiency of the power distribution system. Arisekola criticized the current DisCos for their reliance on subsidies and profits without adequately investing in upgrading equipment from the former National Electric Power Authority (NEPA) era.
According to Arisekola, the new investors must demonstrate their capacity to invest in modernizing infrastructure, including repairing old equipment, providing transformers, and ensuring efficient distribution and transmission of electricity.
While acknowledging that power generation is no longer a significant challenge, Arisekola stressed the urgency of addressing distribution and transmission issues to improve the overall performance of the power sector in Nigeria.
