Arisekola Urges Buhari To Revisit Privatization Of PHCN

Chairman, Association Of Online Media Practitioners, Wole Arisekola, has urged President Muhammadu Buhari, to revisit the privatisation of the Power Holding Company of Nigeria (PHCN) which many people believe was filled with irregularities.

“Besides enriching themselves, taking over government’s huge investment at almost nothing, there is nothing the Distribution Companies (DISCOs) have got to show for the exercise,” Arisekola said.

He further alleged that beneficiaries of the exercise grabbed government assets and ran away from several liabilities including PHCN debts to some contractors even as he blamed them for “the sack of numerous Nigerians and replacing them with family members and friends of officials”.

“One of the top four reasons why Nigerians voted for Buhari was my conviction then that he will undo this fraud and robbery called privatisation. If anything, the situation has been worse since the fraudulent privatization,” he stated.


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