Since the privatization of the sector sold at a bottom price of $400 million, an industry that worth more than $3 trillion, power supply hasn't improved. The Generating and Distributing Companies have successfully continue to drill billions of Naira from the poor masses through issuing crazy bills. For five years now the power industry have been privatized. Power generation has remain in stale-ment without any meaningful improvement. In fact, it is between 2000 to 4000 megawatts. And now it is worst that in many communities who hardly see light and at the end of the month are forced to pay as high as N10000, N12000, N15000 which is the least.
While the GENCOS and DISCOS are running a super-rich agenda, making profit through crazy billings. It's plan to subsequently increase electricity tariff to 65% which is equivalent to N65 per kilowatts. The excuse given by these private companies generating billions of naira from the exploitative billing and supplying darkness is that, the cost of running the power industry is expensive. But the truth must be told. These private companies who bought the power sector at a cheaper price, hasn't been able to boost of bursting the megawatts to at least 8000 for a start talking of 80000 megawatts to power an economy like Nigeria that should be industrial.