Privatization of Power Sector in Nigeria: An Evaluation of Ibadan and Ikeja Electricity Distribution Companies Performance (2005–2018)

The challenge of stable electricity supply in Nigeria with its harrowing effects on socio-economic development accounted largely for government decision for privatization of the power sector. However, the extent to which this purpose has been achieved requires investigation, which necessitates this study. Survey research design was adopted, with questionnaire administered on both residential and commercial customers of Ibadan and Ikeja electricity Distribution companies selected as focus for the study. Multiple regression statistics was used for data analysis. The result shows that both distribution companies (DISCOs) have brought no significant improvement to electricity supply going by the quality, billing, coverage, metering, load shedding, and response to customers’ indicators. Thus we recommend that DISCOs should source for fund from the capital market in order engender customer satisfaction, inject fund for replacement or upgrade of dilapidated power equipments, provision of meters, especially, prepaid type while government make the business environment convenient for healthy competition and regulation.