NEWS

No plan to take over DisCos – Presidency ▷ Nigeria news

– The presidency faults media reports suggesting that the federal government is planning to take over the electricity distribution companies (DisCos)

– Laolu Akande, a presidential aide describes as misleading media reports suggesting that the recent meeting by the NEC was related to the government’s takeover of the DisCos

– The presidential aide explains that the discussion at NEC meeting was about managing the shares retained by the Nigerian government in the DisCos

The presidency has denied reports claiming that the federal government was planning to take over the electricity distribution companies (DisCos).

Laolu Akande, a media aide attached to the office of the vice-president in a statement on Friday, November 22, faulted as misleading media reports that suggested that the recent meeting by the National Economic Council (NEC) was related to the government’s takeover of the DisCos

The presidential aide clarified that the issue which came up for discussions at NEC meeting was about the quantum of state governments’ interests in the 40% shares retained by the Nigerian government in each of the DisCos at the point of privatisation.

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For the purposes of clarity and accurate records, the ONLY issue which came up for discussions at NEC yesterday was about the quantum of State governments’ interests, if any, in the 40% shares retained by the Nigerian Government in each of the DisCos at the point of privatization. A Committee was then constituted to review historical records and advise the Council accordingly,” the statement read.

Meanwhile, the poor power supply to Nigerians is the current focus of the Senate as the legislators have commenced an investigation into the activities of electricity generation and distribution companies in the country.

The Senate asked its committee in charge of power to commence the probe of these companies to unravel why they have failed the citizens in the area of effective power supply and report back to the red chamber within four weeks.

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Senator Chukwuka Utazi, representing Enugu North, had on Tuesday, November 19, sponsored a motion lamenting that, with a population of about 200 million and an annual growth rate of 2.6% per annum, the power deficit in the country should be something to worry about.

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