Privatization of the National Electric Power Authority (NEPA) and the Reform of the Electricity Sector in Nigeria
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PARAKLETOS IMMUNNIS DRIVE
Abstract
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The idea to restructure the Nigerian economy, arising from the fall in
crude oil prices, started in the early 1980s when the Shehu Shagariled
federal government introduced Austerity measures. However the
' ' intro~uct~on of s.A~_ PY Ibrahim Babangida ad!flin,istration . w~s,
accompanied with conditionalities by the World Bank to bail the
country out of the financial crises and privatization was a key
component of the economic liberalization. So, from one government
to the other the issue remained unresolved until General Babangida's
administration promulgated the Technical Committee on
Privatization and Commercialization (TCPC) in 1988 that actually
brought the matter to the front burner. Ten years later, the government
of General Abdusalami Abubakar promulgated the Public
Enterprises (Privatization and Commercialization) Decree of 1999
which listed NEPA now changed to PHCN for privatization. The
privatization of PHCN was consummated on 1'1 November, 2013
when President Goodluck Jonathan handed over the subsidiary
companies that made up PHCN to the new core investors. The paper examines the effects of this privatization ofNEPA. It employed the
theory of Liberalism to in the analysis and argued that the
government carried out the process honestly, even though there were
few instances where some principles of Liberalism were flouted.
Based on this, the paper made some recommendations.
Keywords
H Social Sciences (General), JA Political science (General)