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Senate President Writes Off Power Sector Privatisation
The Senate President, Dr Bukola Saraki, has said that the privatisation of the power sector by the previous Federal Government has failed.
Saraki said this, yesterday, in his message at the opening session of the Senate, while also decrying the policy inconsistencies that have continued to challenge the business environment.
He said, “Before we left for the break, myself, a select few of us and stakeholders in the power sector met to get an understanding of why no progress has been made thus far despite the best intention; and the revelations were mind-boggling.
“There had been errors in the privatisation process and the model by which the power sector is being operated—whether at generation or distribution—will never take us where we need to be. It has failed and nobody appears willing to tackle the issue head-on towards a permanent resolution.
“I have mandated the Senate Committee on Power to continue the consultation with the relevant parties to forge a path to solving our crippling power deficit. After all, if we are going to drive Nigerian industry, we need to resolve this and fast.”
Saraki said for a private sector-led economy to thrive, there was the need to reform the policy environment to give investors and businessmen and women ample adjustment time to make informed investment decisions rather than have uncertainties.
He noted that this was especially important in the agriculture and solid mineral sectors, where there were significant economies of scale and opportunities for diversification of our economy.
Describing the petroleum industry as critical to the health of the nation’s economy, Saraki said the Senate wanted the executive to take positive steps to begin a “meaningful dialogue” with those aggrieved in the Niger Delta.
“The proposed engagement, we suggest must be sincere, constructive, open and confidence building. This Senate is willing to assist and play whatever role necessary to facilitate a successful agreement that would help us see to the end if the lingering conflict,” he said.
He thanked President Muhammadu Buhari for showing faith with the work of the National Assembly by signing 16 of the bills passed by the legislature into law.
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RSG INAUGURATES ARMED FORCES REMEMBRANCE DAY COMMITTEE
The Rivers State Government has inaugurated a Central Planning Committee to organize the celebration of the 2026 Armed Forces Remembrance Day (AFRD) in the State.
The committee was formally inaugurated by the Secretary to the State Government, Dr. Benibo Anabraba in Port Harcourt, last Thursday.
Dr Anabraba who also serves as Chairman of the Committee
highlighted the State Government’s deep appreciation for the sacrifices of Nigeria’s fallen heroes who laid down their lives for the nation’s peace and unity.
“These heroes have given their lives for the security and peace of our nation and deserve to be celebrated. The Armed Forces Remembrance Day is an opportunity to show our gratitude for their sacrifice,” he said.
Dr. Anabraba further extended recognition to all Security Agencies in the State, emphasizing the importance of the event in appreciating their contributions to national security and sovereignty.
The annual Armed Forces Remembrance Day, observed on January 15 across the country is dedicated to remember Nigeria’s departed soldiers and honouring the nation’s veterans.
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