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 President Muhammadu Buhari has said that the varied jokes Nigerians make of the precarious situation in the electricity sector will end by the end of his tenure in 2019

He made this known at the beginning of a two-day National Economic Council (NEC) retreat on the economy held at the State House Conference Hall, Abuja, and attended by state governors, ministers and relevant heads of government agencies.

President Buhari said his government is working towards increasing the power production to 10,000 megawatts before the end of its tenure. He said this year alone, 2,600 megawatts will be added to the national grid.

Buhari, who said the purpose of the retreat is to generate immediate, medium and long-term viable policy solutions to the economic challenges facing the federal and state governments.
His words: "Nigerians' favourite talking point and butt of jokes is the power situation in our country. But, ladies and gentlemen, it is no longer a laughing matter. We must and by the grace of God we will put things right.

"In the three years left for this administration, we have given ourselves the target of 10,000 megawatts distributable power. In 2016 alone, we intend to add 2,000 megawatts to the national grid."�

The President lamented that the privatisation of the power sector was yet to improve quality of service as complaints persist, including constant power cuts; high electricity bills despite power cuts; low supply of gas to power plants due to vandalism by terrorists; obsolete power distribution equipment; power fluctuations, and low voltage which cannot run industrial machinery.

"In our determination to CHANGE we must and will, insha Allah, put a stop to power shortages,"� Buahri said while listing efforts being made by his government to turn things around.

According to him: "We are facing the classic dilemma of privatisation: Public interest versus Profit Motive. We must complete the process. But the National Electricity Regulatory Commission (NERC), the regulatory authority, has a vital job to ensure consumers get value for money and overall public interest is safe-guarded.