Victor Obinna Chukwuma

The Senate President of the Federal Republic of Nigeria on 9th December 2019 reportedly called on the Nigerian executive arm of government to declare a state of emergency in the nation’s power sector. The third figure in Nigeria’s helm of power described the power sector privatization as a fraud and called for a review of the scheme. Although the National Assembly is yet to take a courageous stand, the current opinion of the Senate President suggests that the Nigerian government is seriously faced with the challenge of taking a major decision of revisiting the power sector privatization scheme. This is more so because the power sector is currently in shambles and the private investors managing the sector seem to be overwhelmed by the onerous task which they signed to perform since 2013. This research work carefully juxtaposes the arguments for and against the option of ‘deprivatizing’ the power sector and finds that deprivatization may not provide a lasting solution. The researcher, however, recommends that more efforts should be channeled towards investing in the nation’s rich renewable energy resources as the surest way of solving the quagmire presently trailing the nation’s power sector.