Obasanjo Urges Government to Privatize Nigeria's Power Sector

Former President Olusegun Obasanjo has called on the Federal Government to hand over Nigeria's electricity sector to private operators, citing the country's persistent power shortages. He made this statement at the Youth Governance Dialogue, themed "African Youth and Renaissance", held at the Olusegun Obasanjo Presidential Library in Abeokuta, Ogun State. Obasanjo argued that government control has not yielded meaningful progress in the sector.

Obasanjo pointed to the telecommunications sector as an example of how private sector participation can transform a struggling industry. He recalled that Nigeria's telephone services improved significantly after private companies took over operations. The former president emphasized that government efforts to fix the electricity problem have been ineffective, leaving businesses and households struggling with unreliable power supply.

The former president described electricity as a critical foundation for economic development, noting that inadequate power supply affects business growth, industrial production, and job creation. He expressed disappointment that Nigeria continues to battle electricity challenges despite years of government promises and reform efforts. Obasanjo maintained that government should reduce its involvement in the sector.

Obasanjo challenged Nigerian youths to take an active role in addressing the country's power challenges rather than depending entirely on government. He urged young people with innovative ideas in business and technology to develop practical solutions that could help transform the electricity sector. This, he believes, can be achieved by creating more room for private operators to drive improvements.

The former president's comments come as Nigeria continues to struggle with electricity supply. The country's power sector has faced numerous challenges, including inadequate generation, transmission, and distribution infrastructure. Obasanjo's call for privatization is not new, but it has sparked renewed debate about the best way to address Nigeria's power challenges.

Obasanjo's statement was made at a gathering of young people, emphasizing the need for youth involvement in addressing the country's challenges. He encouraged young people to develop innovative solutions to help transform the electricity sector. The Youth Governance Dialogue was organized to promote youth engagement in governance and development.

The issue of power supply is critical to Nigeria's economic development. The country's power sector has been plagued by challenges, including gas shortages, inadequate transmission infrastructure, and inefficient distribution systems. Obasanjo's call for privatization has sparked a renewed debate about the best way to address these challenges and improve electricity supply in Nigeria.

Key points

• Former President Olusegun Obasanjo urges government to hand over Nigeria's electricity sector to private operators.