Where are the privatised power companies capex announcements?

The Nigerian government concluded the first round of power privatisation last October.

Generation and Distribution companies were sold, while the Transmission company is to be managed by Manitoba corporation of Canada.

The question now is, four months after the handover of PHCN (Power Holding Company of Nigeria) assets to private sector players, where is the capital expenditure to improve efficiency and boost output.

It is no secret that most of the acquired power assets are in poor shape and need billions of dollars in new investments.

Unless we begin to hear new announcements of capex investments by the new private owners, i would not be optimistic on the prospects of Nigerians overcoming the incessant blackouts and energy deficit any time soon.