AN ASSESSMENT OF THE PRIVATIZATION OF THE POWER SECTOR IN NIGERIA: A STUDY OF KARU LOCAL GOVERNMENT OF NASARAWA STATE

Abstract

This paper discusses the impact of privatization of power sector on Nigeria, with Karu local government of Nasarawa state as a case study, it uses the theory of economic development to give a theoretical explanation of the Privatization of the power sector in Nigeria which is based on capitalist ideology, orientation and assumption. The study seek to assess the impact of the privatization of the power sector on communities, specifically, Karu local government of Nasarawa state. The work used both quantitative and qualitative method in its analysis and primary data was sourced through questionnaires and oral structured interviews. the study found out that privatization of the power sector in Nigeria have only succeeded in entrusting the collective wealth of the people in the hands of a few privileged elite, Strikes by labour unions in the sector, high electricity bills without commensurate service and above all epileptic power supply in Karu local government among other negative impacts. The paper concluded that the privatization of the power sector has not led to significant improvement in power supply in Nigeria with its devastating impact on the economy and households. The paper recommends that there is need for a review of the entire programme for more competent investors to come into the industry, also the regulatory body need to check the excesses of the distribution companies by regulating arbitrary tariffs increases and quality of services offered, this will go a long way in improving electricity supply.