Electic Market Restructuring in Nigeria (Overview)

Nigeria is a third world country, the most populous country in africa with about 160 million people. The type of government being practised is democracy.
Electricity has been a major problem in Nigeria with lack of constant electric supply which has made people in Nigeria resort to using diesel or petrol run generators. This has had a an adverse effect on the economy, hindering the progress of the economy. With this being in mind, there has been talk of electricity reforms in the nation to solve the unending problem of lack of power. In electic reform, there are various factors that should be looked into and they include:
1. Privatisation
2. Regulation
3. Government
4. Available Technologies etc

With all these and a few more, the electric market can be restructured but it is no easy task, a lot of countries has gone through this with most opting for the privatisation option rather than government runned. The pivatisation option looks more viable to achieve the electricity reform goal because, there will be division of labour and with the electricity being in 4 parts which are the Generation; Transmission, Distribution; and supply; other companies can take part in at least one of them, ensuring more activity and also, making the electricity sector not dependent on government. The problem with privatisation is the lack of competition. If the electric sector is privaticized and only a company or a handful of companies takes over, then, they run it the way they want, put tariffs at whatever amount that suites them and could want to pay less attention to maintenance. With this, it would be worse than when it was government runned but when they is a lot of competition, this creates a situation where only the best company is used for electricity, so others would sit up and want to be the best.
The second factor which is the regulation is also of utmost importance, this is because, without a strong regulation body to ensure that all parties involved with electric sector are abiding to the set rules and regulations, there is no need for the reform because, it would eventually go back to being what is was or even worse. With this in mind, there should be a strong regulation body with rules that are put in law.
The third factor which is the Government is also important, the government ae the ones doing the reform and in a corrupt government, the people in power would do this to seek personal gain and might not let this get to completion because of the money they may be seeing when the reform is underway, bribes that may be passed around etc. For this to go smoothly, the government should be firm and go about the reform diligently.
The factor of available technologies talks about the different modes of which the electricity would be generated, transmitted and distributed. With the world having lots of modes of electicity generation and looking at the available resources to know the kind of electricity generation to be used, thereby, increasing the amount of electricity that is being produced to satisfy the amount of users.
If the reform is done correctly, there would be a boost in the economy with industries operating on power from the grid other than, spending so much on diesel or petrol to power there generations to be able to work and also, small business can even run smoothly without the fear of the electicity being cut.