Nigeria yesterday crossed a major hurdle in the quest for a reliable electricity sector, when the Technical Committee of the National Council on Privatisation (NCP) announced the 16 preferred bidders for 10 out of the 11 power distribution companies (DISCOs) in the country.
Analysts who spoke to BusinessDay shortly after the announcement, described the development as a milestone in the privatisation process, aimed at reforming the moribund power sector.
A leading economist and chief executive of Financial Derivatives company, Bismarck Rewane, told BusinessDay: “ Any private sector enterprise is better than state monopoly. It is a major milestone; it is a major hurdle we have crossed; a defining moment in the privatisation process. I really don’t care who is buying them”.
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