Geregu Power and bandit capitalism?, By Chidi Anselm Odinkalu
Power sector reform in Nigeria involved more than the un-bundling of NEPA or what became known as Power Holding Company of Nigeria (PHCN).
In 2005, Nigeria enacted the Electric Power Sector Reform Act to “establish the legal framework for the formation of initial and successor companies, transfers assets and liabilities from the National Electric Power Authority (NEPA) to new entities, and creates a competitive electricity market.
One year into the reform process, Geregu Power PLC was created in November 2006 as a publicly traded company with interests in the newly un-bundled power sector.
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