The Minister of Power, Works and Housing, Babatunde Fashola, speaking at the 2017 Power Africa Nigeria Conference in Abuja on Thursday, said that the Electric Power Sector Reform Act that was passed in 2005, which serves as Nigeria’s electricity reform law, is one of the best in the world and is almost perfect, The Punch reports.
He said that nothing was wrong with the law in its entirety, as the only concerns about the Act might be on its implementation by the government. He explained that with the law, the business of power generation, transmission and distribution had been democratized and was now within the domains of both the federal and state governments to consider investing in.
The minister noted that in implementing reforms, which the law enunciated, like the privatisation of the defunct Power Holding Company of Nigeria, there might have been errors that had left some gaps. He, however, stated that the government would close the gaps and correct the errors by using the recently approved Power Sector Recovery Programme.