Babatunde Fashola, minister of power, works and housing said the former President Jonathan-led administration ordered a reversal of tariff in order to win electoral votes in 2014 - Fashola also said the Jonathan ordered reversal of tariff created a massive debt for Nigeria because it did not reduce exchange rate - He also said the debt that Jonathan created while in power is what President Muhammadu Buhari's government contend with currently Babatunde Fashola, minister of power, works and housing has lambasted former President Goodluck Jonathan for reversing electricity tariff “to win electoral votes”. Fashola declared that the privatisation of the country’s power sector was delivered base on “some deception”. He made this known on Thursday, July 13, while delivering a speech in an event organised by the department of economics, University of Lagos (UNILAG). READ ALSO: Acting President Osinbajo visits N-Power call centre in Abuja According to him, after the privatisation process was concluded, the previous administration failed to explain to Nigerians that a lot of work was required. The Cable reports that Fashola said it is unfortunate that the reduction of electricity tariff created “massive debt” for Nigeria because it was on the same level with country’s economy. The minister said: “While I fully support privatisation, I believe what took place in 2013 in the heat of politics was a privatisation that was well intentioned since 2005 but delivered with some deception in 2013 with the expectation of political profit. “It led many uninformed Nigerians to believe that once the privatisation was concluded, the assets sold to the distribution companies (DisCos) and the Generation companies (GenCos) there was immediately going to be power. ‘’I cautioned then that people’s expectations were being unduly raised without telling them that there was a lot of work to do. Read more....
