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Jonathan Is Responsible For The Bad Power Sector —Lai Mohammed

Published by Maxzealno on September 29th, 2020.

The Federal Government, has pointed accusing fingers at former President Goodluck Jonathan, for being responsible for the multiple problems in the Power sector, Page 36 learnt.
According to the Minister of Information and Culture, Lai Mohammed, the Goodluck Jonathan-led government sold the Power Generating and Distributing Companies, DisCos, to quack Investors, adding that, the government has so far spent not less than N1.7 trillion to remedy the ensuing lapses.
Lai Mohammed said that the President Buhari-led government had two options to resolve the issues: cancel the entire sales, or to get the Distributing Companies to recapitalise.
The Minister noted that when President Muhammadu Buhari took over the government in 2015, his administration inherited the debt of the DisCos, which at the time was about N701 billion.
He revealed: “We took over the debt of the DisCos, which was about N701 billion, because of the effect the cancellation of the sale will have on the country and International Investors.
“The people are simply incompetent, and if we did not provide the money, that means they will not distribute power to anybody.
“To borrow just to subsidise generation and distribution, which are both privatised, will be grossly irresponsible.”

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