Fashola ignores Dangote, says FG won’t reverse privatisation

-The minister of power, works and housing, Babatunde Fashola has spoken on the privatisation process

– Fashola stated that the process will not be reversed

– This is a big blow to Alhaji Aliko Dangote who holds a contrary opinion

Minister of power, works and housing, Babatunde Fashola today, November 10 said the federal government is not  planning to revoke the privatisation process in the power sector.

 Minister of power, Babatunde Fashola says he is not interested in reversing the privatisaton in the setor

Minister of power, Babatunde Fashola says he is not interested in reversing the privatisaton in the setor

According to The Guardian, Fashola made the comment at the 5th European Union (EU)-Nigeria Business Forum with the theme: “Harnessing Nigeria’s Potential for Economic Growth” in Lagos.

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He said: “The Federal Government will respect and uphold the contract it has been committed to and inherited from the past administration.

“I am not in charge of power sector to revoke the privatisation agreement signed three years ago.

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“If those calling for revisiting of the privatisation of the power sector meant to say improving the governance, performance and efficiency, then, I am here for that.

“If revisiting it will mean that Distribution Companies (DISCOs) should open up and investments should come in, I am for that. If it means that the entire power sector will become very efficient, I will support it.

“But, I will not support cancelling of the contracts we had with them. If we revoke privatisation of the sector, investors will carry their bags and go, they will tell others that Nigeria is not reliable for investment.’’

Fashola urged the EU-business delegates to invest in the power sector, adding that no economy would grow without investment in infrastructure.

Fashola’s comment is coming barely a week after the richest black man on earth, Alhaji Aliko Dangote suggested that the power sector privatisation should be reversed.

READ ALSO: Buhari ministers in fierce rivalry over 2016 Budget, may delay 2017 Budget

Dangote stated that the privatisation was done wrongly and the  beneficiaries of the policy lack understanding of the complexities of the sector.

The post Fashola ignores Dangote, says FG won’t reverse privatisation appeared first on Nigeria News today & Breaking news | Read Naij.com 24/7.

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