THE PLANNED ACQUISITION OF 60 % EEDC,
let’s think before we shoot ourselves on the legs.
It will do this state a lot of good if we distance ourselves from any joint venture or partnership with EEDC, very poorly managed by Interstate Electrics limited. EEDC is among the worst managed Disco in Nigeria of all the Discos created by privatization for close to 20yrs. We expected the Abia state government to take advantage of unbundling of the electricity sector or removal of power from the exclusive legislative list to roll out plans for investors to start up businesses in the generation, transmission and distribution of electricity power in the state.
This will also give the grounds for the establishment of a state regulatory agency to manage the various enterprises in electric energy power businesses as has been done by Lagos, Enugu, Imo, Oyo, Anambra states etcetera. The government rushing to buy up 60% of moribund electricity infrastructure shares of EEDC is a waste of the state’s resources and also would seem like putting the cart before the horse. The investment in EEDC that couldn’t deliver on their mandates will retard the state electricity infrastructure development plans going into the future.
There’s nothing new the EEDC can bring to the table other than the gross incompetence that saw them distributing only darkness in large chunk of the state thereby ensuring 70% of Abia territories remain in darkness. I will use this auspicious occasion to plead with the state government to seriously rethink this business misadventure waiting to happen. First, the state should liberalize the electricity energy sector through a properly domesticated electricity sector regulatory laws and throw the sector open to all manner of investors in generation, transmission and distribution.
This is the least that is expected of the government at this stage. I’m aware that at least 5 investors are planning to invest in the state electricity generation sector alone. EEDC and their parent, Interstate Electrics is a no no for us in Abia state if we want to move the state forward. Unless there is something we are yet to be told about EEDC that we don’t already know.
Dr. Engr Odo Ijere
