ARISEKOLA CALLS FOR PRIVATE INVESTMENT IN NIGERIA’S POWER TRANSMISSION NETWORK

Mogaji Wole Arisekola, publisher of The Street Journal Newspaper, businessman, philanthropist and community leader, has called on President Bola Ahmed Tinubu to privatise the Transmission Company of Nigeria and fully digitalise the country’s electricity transmission network. Arisekola made the proposal in an open letter to the President, saying the measure would help address some of the persistent challenges affecting electricity supply across the country. He also acknowledged the recent improvement in power supply in some parts of Nigeria, describing the development as commendable and urging Nigerians to recognise progress whenever it occurs.

According to Arisekola, the country’s electricity challenge goes beyond generation and distribution, with transmission remaining a major obstacle because the sector is still controlled and operated by the government through TCN. He argued that leaving transmission entirely under public control could continue to limit the effectiveness of reforms already carried out in other parts of the electricity value chain. He also alleged that access to electricity in some areas could be influenced by personal relationships and connections rather than consumer needs and the actual capacity of the system.

Arisekola said privatising electricity generation and distribution while retaining transmission under government control would not deliver the desired results. He recalled that he had previously written to former President Goodluck Jonathan during the privatisation of the electricity sector, warning against leaving transmission in government hands. He also pointed to the deregulation of Nigeria’s telecommunications sector under former President Olusegun Obasanjo, arguing that increased private-sector participation transformed access to telephone services after years when obtaining a telephone line could take a long time and, in some cases, depend on personal connections or payments.

The businessman further cited the experiences of government-owned institutions such as the Nigerian Railway Corporation, Nigeria Airways and NITEL as examples of the difficulties that can arise from government management of major commercial enterprises. He acknowledged that some civil servants are committed to improving the country but argued that weaknesses within the system could undermine government policies. Arisekola also commended the removal of the petrol subsidy, maintaining that continuing the subsidy system could have exposed Nigeria to greater financial losses.

He therefore urged the Tinubu administration to urgently privatise TCN and make digitalisation a compulsory requirement for investors entering the transmission sector. Arisekola said Nigeria needs a modern, transparent and technology-driven transmission system capable of digitally monitoring electricity movement from generation through transmission and distribution to homes and businesses. He argued that such a system would improve transparency, reduce inefficiencies and strengthen the ability of authorities and operators to identify and respond to problems within the electricity network.