The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), has expressed the displeasure of the association over the disappointing performance of Electricity Distribution Companies (DisCos),in the country.
He, however, recommended that a security summit that would look into lasting solution to insecurity should be among those national topical issues the next administration should prioritize.
Comrade Festus Osifo, President of PENGASSAN in chats with Daily Independent, urged the incoming Federal Government to, without delay, revoke the licenses of DisCos over poor performance.
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Comrade Osifo, while citing the inability of the investors to bring the expected turnaround maintenance and development in the electricity sector, he called for cancelling the entire privatization exercises
“We are worried that since the investors have been performing below expectation, government should withdraw their licenses”, he said.
He cited the power targets set by the outgoing administration despite the availability of human and natural resources had been disappointing as reason for his call of withdrawal of the licenses.
The PENGASSAN President, also expressed concern on why Nigeria could not explore other alternatives to improve power supply and use such to grow the economy since economic growth is largely dependent on the availability of steady power supply, reiterated that “oil workers urged the government to complete the power and energy sector deregulation process by opening up the transmission segment of power value chains to competent private participation and investments.
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“In pursuing this, the union advocated managerial experience, technical expertise and financial capabilities to be considered for willing and prospective investors.”