The House of Representatives has resolved to review the privatisation of the Nigerian Coal Corporation.
To this effect, a motion was moved by Chime Oji, calling for the exploitation of coal deposits across the country as a viable option for economic diversification and job creation,The motion also contained the review of the National Energy Policy. Oji said such review would increase the chances of coal contributing to electricity supply in the nation. Nigeria is increasingly seeking an alternative to it limited sources of energy.
The lawmaker is worried that the Federal Government spends a reasonable amount of money in routine repairs of gas pipelines but, the pipes are still prone to vandalization or other forms of sabotage. He however observed Nigeria has a coal deposit up to the tune of 2.5 billion tons, while coal mining will afford the country ample employment for the teeming youths.
“The recent privatization of the Nigerian Coal Corporation has led to the erosion of institutional memories of the corporation and technology”, he said while urging members to review the process.
The House has mandated Committees on Privatization and Commercialization alongside Power to review the privatization of the Coal Corporation, so as to ensure the exercise was done in conformity with the National Energy Policy and in line with global best practices.
The resolution also urged the Federal Government to target increased employment and investments in the coal value chain, with particular attention in the areas of iron and steel production, as well as other derivatives like gasoline, acetic acid, methanol and diesel, due to the huge economic advantage it portends for Nigeria.
The Congresswatch recalls that revamping of the moribund Nigerian Coal Corporation was a major thrust of President Buhari’s campaign when he visited Enugu State in January 2015.
At the rally, he said the Corporation would be used for power generation to cater to the electricity needs of people in the South-East geo-political zone and beyond.
“We will make sure that there is regular electricity so that people do not buy generator and spend their hard earned resources to fuel it. We cannot achieve these things if you do not vote. We want you to get your PVC’s, vote and make sure that your vote counts,” Buhari remarked on the campaign ground.
