The Executive Chairman, Mak Mera Nigeria Limited, Chief Michael Olorunfemi, has called on the Federal Government to revoke the sale of power stations due to non-performance by the power companies.
“The Federal Government should revoke the sale of power companies due to non-performance. The government should also revoke their licenses and get new investors who have the financial muscle and the technical knowhow so that the power sector can move forward. They are now raising tariff especially when they have not been able to increase power supply. They want the consumers to contribute to them to procure prepaid meters. They should have come with the fund to acquire prepaid meters for metering the houses. The sector needs an over hall as far as I am concerned,” he said.
Speaking on unbundling of power sector, he said, “I don’t think Nigerians have benefited because the government favoured their friends who didn’t have the financial muscle and the technical knowhow in the power business during the sale of the power stations. They should have given them to companies with the resources and the knowhow. Up till now they are still using estimated billing because they have not been able to provide meters for the residence,” he stressed.
This according to him is in their interest because they bill the houses more than what they consume. Assuming they have provided prepaid meters, if there is no power supply, their credit won’t burn but whether there is power supply or not they still bring bills for the power not consumed.
The executive chairman further stated that the government is no longer able to subsidize the petrol price. “So we have said that there should be no more subsidy. He maintained that there should be total deregulation so that private sector will be able to come in and invest in the sector. “Once a market is regulated, people are not eager to go in there. Until there is total deregulation, government will be the only one shouldering the responsibility”.
He argued that the masses are afraid that deregulation will bring an increase in price but pointed out that they do not understand that it will make people to become more rational in the use of the products. This, he said, is the only way you can introduce efficient use of the products. “The days that you are subsidizing to help the man on the street is gone because the man may not see the products”.
Speaking on vandalism of power equipment and energy theft, he said, there should be a law stipulating punishment, the unemployed today according to him have taken to crimes like vandalism of power equipment, may be as a result of insufficient number of police to police the whole nation and the power installations. “Sometimes when we hear news of arrest of the vandals, we don’t get to hear the news of prosecution. Until people who involve themselves in this crime are punished, there will not be a deterrent to others. So there must be enough police personnel to police the whole area and there must be a law that will stipulate punishment for those who are arrested with regards to vandalism of power equipment,” he stated further.