He advocated the legalisation of power tariffs and urged the Energy Regulatory Commission (ERC) to ensure that tariffs provided by private power companies were not speculated, pointing out, however, that margins should be left for private companies to be profitable.
Speaking on Wednesday at the ongoing 7th Lagos Economic Summit, Ehingbeti2014, President Saakashvilli said electricity could come from two supplies, gas power station and hydro power, insisting that monopoly should not be given on supply.
“Its very important not to give anybody monopoly on your supply,” he cautioned.
Giving his experience as the former president of Georgia, he condemned corruption and stressed the need for justice, explaining that the punishment of corrupt public office holders would go a long way in ending corruption in Nigeria.
He further stressed that he inherited a corrupt system that triggered the privatisation of the hydro power sector to prevent more corrupt practices in the system
Mr Saakashvilli advised Nigerians to desist from corruption, as it brings dishonesty and lack of trust in the leadership.
He further urged the public and private sectors to invest in power to enable Nigerians have consistent power supply.
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The matter was adjourned till June 17, 2026, for the continuation of the trial.
