The Speaker of the House of Representatives, Mr Femi Gbajabiamila, says without an effectively functioning power sector, government will not be able to build the industries, power innovation and create enough jobs to cater to the large and rapidly expanding number of young people in the country.
Mr Gbajabiamila made the remark at an investigative hearing on the planned privatization of the Niger Delta power holding company plants by the federal government.
Represented by the Deputy Minority Leader of the House, Mr Toby Okechukwu, said the people should enjoy the quality of life that allows them to dream big dreams and achieve grand aspirations, the government must get it right, to correct the mistakes of history.
The Speaker noted power sector is an area that has been the subject of multiple interventions by governments with billions of dollars in local and foreign investments, but the sector has failed to deliver on the demand and expectations of the Nigerians.
The Chairman House Committee on Power, Alhaji Aliyu Magaji, saidwqthat the House mandated the Standing Committees on Power and Privatization & Commercialization to investigate the planned sale of 5 power plants under the National Integrated Power Project (NIPP) and report back to the House, its findings including recommendations.
Alhaji Magaji, revealed that in 2013, the Federal Government announced the proposed privatization of some NIPP power plants owned by the Niger Delta Power Holding Company, with a plan to reinvest the proceeds in developing renewable power generation which never come to pass.
According to him, the planned privatization brings forth memories of the power sector privatization that has continued to be a subject of discourse, seven years later, with the general claim that is yet to meet its desired goals.
The Chairman added that the Investigative hearing was to unravel issues of the planned privatization that would guide the Committee in its findings and recommendations to the House for subsequent adoption.
Stakeholders at the event include, ministry of power, Niger Delta power holding company and Bureau of public enterprises among others.