Tony Elumelu, the Group Chairman of the United Bank for Africa (UBA) says Nigeria’s electricity transmission lines should be privatised.
The UBA Chairman also called on generating and distributing companies as well as stakeholders in Nigeria’s power sector to agree on a deal with the federal government.
He notes that the transmission sector is so critical to the country’s economy and would be in the interest of Nigerians that it is privatised.
Transmission Company of Nigeria (TCN) manages the electricity transmission network in the country and is fully owned and operated by the government.
TCN is responsible for evacuating electric power generated by the electricity generating companies (GenCos) and wheeling it to distribution companies (DisCos). It provides the vital transmission infrastructure between the GenCos and the DisCos’ Feeder Sub-stations.
“In the area of the transmission lines, I think that ultimately it should be privatised,” Mr Elumelu said when he featured on an ARISE News programme, The Morning Show on Wednesday.
“What some of us have advocated is that the gencos and the discos, the entire power stakeholders should come together and have a deal with the federal government take over the transmission line and it will be in our self interest we make sure that it works.
“If we have the transmission lines and it doesn’t work and you are generating, there will be no way you will evacuate your power. That sector is so critical and pivotal for the survival of our power sector and is critical for improving access to electricity.”
By Abel Ejikeme