An expert in the electricity domain has told JollofNews that Gambians are paying more than necessary for electricity, saying citizens could pay less if the Gambia government leaves the Heavy Fuel Oil (HFO) supply business open for competition, adding that the monopoly “is hemorrhaging” the citizens.
For nearly five years now, the Gambia government has ensured the HFO supply to NAWEC remains the exclusive preserve of the Sisokho Oil Trading company, which is owned by a generous financier of the governing National People’s Party (NPP).
According to the expert, the monopoly that the Sisokho Oil Trading has been enjoying for the past years has stifled competition.
“Consumers could have paid significantly less for electricity had the government allowed other players to compete,” explained the expert. “A metric ton of HFO could be supplied at below US$50 as opposed to above US$60 that it’s currently supplied to NAWEC. Gambians are the ones bleeding from this lack of competition in the HFO supply business.”
