Minister of State II for Power, Works and Housing, Alhaji Sulaiman Hassan Jara first announced that the Federal Government of Nigeria (FGN) planned to invest N72 billion in the electricity distribution companies (DisCo).

In a subsequent announcement, the Hon. Minister of Power, Works and Housing, Mr Babatunde Raji Fashola (SAN), stated that the Federal Government had concluded plans to provide a N72bn convertible loan to the DisCos, which will be managed by the Transmission Company of Nigeria (TCN).

According to the Minister, the facility would be a shareholder loan which the DisCos (that were not part of the planning for this initiative) must be willing to match or the loan would be converted to equity. Mr. Fashola also stated that the facility is aimed at strengthening and expanding the country’s electricity distribution network currently being managed by privately licensed electricity distribution companies.

Read more...http://energyworthonline.com/2018/06/08/tcns-control-of-discos-and-sustainable-electricity-supply/