By Sebastine Obasi

Electricity distribution companies, (DISCOs), under the aegis of Association of Nigerian Electricity Distributors, ANED, yesterday, said though they might not have performed as expected due to the enormous challenges in the sector, government should not reverse the privatisation of the generation and distribution companies.

ANED’s Executive Director, Research and Advocacy, Sunday Oduntan, while reacting to the assertion by businessman, Aliko Dangote,  that the investors  “went in without even understanding what they were doing…”, said it would be difficult for anyone to suggest that people, seasoned and successful investors, who committed $2.3 billion of their money, 30 percent or $690,000,000 of which is equity, did so without knowing what they were doing.

He stated: “We have done a lot, but we have not done enough. We are not happy where we are. There is no way you can correct the anomaly of 63 years in just three years.

“If the GENCOs (Electricity Generating Companies) and DISCOs investors are to be accused of anything, it is that they believed in their country and had a strong desire to put their money at risk behind that belief, rather than those who may be considered nothing more than armchair experts, with a reluctance to dip their toes in the water.

“In fairness, we note that Alhaji Dangote’s company did put in a bid during the privatisation, but his bid was delivered late, after the bid deadline, and was rejected.  Interestingly, it was a privatisation that was universally deemed to be one of the fairest and most transparent exercise of its kind.”