FG Plans To Reduce 11 Discos.

Federal Government says Power distribution companies in Nigeria are currently being reduced along state lines due to their large sizes that often result in efficiency and ineffectiveness.

It said, the privatization of the firms would not be reversed, but stressed that the Discos would be broken into more efficient structures along state lines so as to be able to deliver on their mandates.

This is coming after the Federal Government also ordered the sale of Discos that have been taken over by banks and the Assets Management Corporation from its original investors/owners, while, four Discos are under the management of banks and AMCON.

The government said, those who acquired the Discos when the firms were officially privatized in November 2013, lacked the required expertise and financial capacity to run the companies, while, the Senate Committee on Power lambasted the Discos for being so inefficient since they took over the privatised assets over 10 years ago, and called for the overhaul of the power firms.

Senate Committee on Power, led by their Chairman, Senator Eyinnaya Abaribe, the Minister of Power, Adebayo Adelabu, said, the Federal Government had commenced the restructuring of Nigeria’s 11 power distribution companies, while, over 100 projects of the Transmission Company of Nigeria have not been completed since 2001, a period of about 23 years.