Wrong Investors Acquired Power Distribution Companies-Buhari
President Muhammadu Buhari,says who bought the various electricity distribution companies acquired them based on political factor and geopolitical consideration rather than on merit.
Buhari,who spoke during an exclusive interview on Channels,also said the current owners of the power distribution companies could not understand what power system entails on Nigeria because theyn were not electrical engineers.
The Transmission Company of Nigeria (TCN) is 100 per cent government-owned, he said,while his government inherited the Distribution Companies (DisCos).
He added: “The owners of DisCos bought them based on geo-political zones rather than merit. The people that own them, who are they? They are not electrical engineers, they don’t have money, it is just a political favour.
“To remove a system and reintroduce one is no joke. Luckily, we have the TCN and that is the transmission. If we can get our technology right, we will cut the cost on transmission and the likelihood of sabotaging the lines and so on.
“We are doing the rail from Lagos to Kano, road from here to Kaduna to Kano. So we have to get the infrastructure right and then Nigerians will mind their own business. But when the infrastructure is not there, the roads are not there, the rail is virtually killed, no power, what do we expect people to do?”
He expressed disgust over power supply situation in the country.
He “I am not because I identify that no country can develop without infrastructure and infrastructure means road, rail and power.”
