- 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).
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.
“Government must also not interfere with the power of the regulator when it fixes tariff in the way the last administration ordered a reversal of tariff in order to win electoral votes in 2014.
“It created a massive debt for Nigeria, because while the government ordered a reversal of tariff, it did not reduce exchange rate, interest rate, cost of wages or cost of gas and other inputs necessary to produce power.
‘’Why should Nigeria carry a debt created by an individual’s electoral ambition? This is what the Buhari administration has to contend with.”
Meanwhile, NAIJ.com had reported that Babatunde Raji Fashola, Nigeria's minister of Power, Works and Housing and former governor of Lagos state won City People Magazine minister of the year award.
Watch this NAIJ.com TV Video of a Nigerian on the street stating categorically that ex-president Goodluck Jonathan was never a bad choice for Nigeria: