The suspension of Sanusi Lamido Sanusi from office as Governor of Central Bank of Nigeria (CBN) sent shock waves into the financial market but did not damage the market as previously feared. The shock was short lived as the Federal Government quickly named his successor. The CBN Governor-nominee, Godwin Emefiele, is seen by local and international investors as a steady hand who will maintain tight monetary policy in the face of currency weakness and avoid his predecessor’s controversial foray into politics.

The massive welcome party and the applause that greeted the conclusion of the privatisation exercise of the Power Holding Company Nigeria, PHCN had inspired confidence with the belief that very soon persistent power outages and irregular supply would be a thing of the past.

Three years ago, Nigerians heaved a sigh of relief when the pre-paid meter was introduced. They thought that at last, the epileptic system of power supply and outrageous billing system since the take-over of PHCN by the private investors will be a thing of the past.

Unlike previous governments without genuine, determined efforts to solve the age-long electricity crisis which had plagued the country, the current administration of President Goodluck Jonathan seemed to have taken the bull by the horns with his transformation agenda including the roadmap on power that guaranteed massive access to electricity.

It was truly theoretical, when the Chief Executive Officer of Nigeria Electricity Regulatory Commission, NERC, Dr. Sam Amadi stated in a media chat that “since other forms of operations had failed, privatisation is the best policy Nigeria can ever embark on that will bring about positive result”.