Why privatising public coys is necessary-Senator

The Chairman Senate Committee on Privatisation, Senator Olugbenga Obadara has said that the lack of maintenance culture in public enterprises is one of the reasons for privatising them.

He made this known when the Senate Committee on Privatisation went on an oversight visit to Olorunsogo Power plant in Ogun State, according to a statement yesterday by the Bureau of Public Enterprises (BPE). The statement signed by BPE’s Chigbo Anichebe said the senators decried the poor maintenance history, saying it greatly affected operations of the plant.

Obadara maintained that where there is adequate availability of power, there would be appreciable growth and development in Small and Medium Enterprises (SMEs) and growth in the Nigerian economy.

In response, Dr. Deji Adeleke, the Chairman, Sepco-Pacific Partners Limited, owners of Olorunsogo Power Plant, said his company was well aware of the maintenance issue at the plant when it conducted a duediligence on the plant facilitated by the BPE.