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CORRUPTION, POLITICAL INTERFERENCE, AND ENERGY GOVERNANCE: REVISITING PRINCIPAL-AGENT FAILURES IN SOUTH AFRICAN AND NIGERIAN POWER UTILITIES
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CORRUPTION, POLITICAL INTERFERENCE, AND ENERGY GOVERNANCE: REVISITING PRINCIPAL-AGENT FAILURES IN SOUTH AFRICAN AND NIGERIAN POWER UTILITIES
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Journal Article
CORRUPTION, POLITICAL INTERFERENCE, AND ENERGY GOVERNANCE: REVISITING PRINCIPAL-AGENT FAILURES IN SOUTH AFRICAN AND NIGERIAN POWER UTILITIES
2025
Overview
Objective: The main aim of this paper is to highlight the principal-agent tensions that are associated with mismanagement, inefficiency and corruption in State-owned entities (SOEs)and Privately-owned entities (POEs). Mismanagement, inefficiency and corruption are some of the key factors that lead to energy crisis in Nigeria and South Africa. Policy reforms in Nigeria and South Africa have been drafted and passed yet, the two states are still experiencing energy crisis. In addition, these issues of mismanagement, inefficiency and corruption affect both SOE’s and POE’s ability to discharge their services. Hence the need to undertake the study. Theoretical Framework: The paper relies on the principal-agency theory to understand the inefficiency, mismanagement, and corruption of SOEs and POEs in South Africa and Nigeria. Design/Methodology/Approach: The paper employed a qualitative research method through books, journal articles and institutional reports to examine the principal-agency theory and policy reforms in both SOEs and POEs. Findings: The paper findings relate to political interference, racialised, othered energy poverty and private interests for self-enrichment in POEs and SOEs are the centre of principal-agent tensions which lead to the inefficiency of these institutions. Research Implications: The paper provides insights that good governance, anti-corruption, infrastructural development, and sustainable development (policy formulation and implementation) are key to attain sustainable energy supply in SOEs and POEs. Similarly, energy racism, infrastructure degradation, and political intervention needs to be addressed to attain sustainable energy supply. Originality/Value: The paper deduced that South African and Nigerian SOEs have taken significant measures toward sustainable energy supply. In addition, the vast existing literature has proven that SOEs and POEs do not significantly differ in management and operations. Therefore, privatisation does not necessarily mean that the entity will function efficiently.
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