The federal government has commenced negotiations with operators of the Electricity Distribution Companies (DisCos) with a view to ceding some of their shares to accommodate new investors who would bring in more funds to increase their service delivery.


The Minister of State for Budget and National Planning, Mrs. Zainab Mohammed, disclosed this at the end of the Nigeria Economic Summit 23#, in Abuja, Thursday.


Discos have been recognised as obstacles to the nation’s quest for efficient electricity sector.


Her words, “ The Power sector has been privatized and every Nigerian knows that the privatization has not worked well. Things we sought to achieve in the power sector have not yet happened. And we have now come to the point where investors in the power sector must come together and decide to cede some of their holdings to enable new investors with expertise come in to enable us grow the power sector at the pace we want. It involves negotiating with existing owners and also government.


“No new investor will be interested to come in with the level of tariff obtainable now. There will be an impact on tariff. Starting point will be Discos.


“The power sector will be opened up to new investment, it is very clear that no new investor will be coming without having a satisfaction from the tariff that will be obtainable in the industry.


“That is a discussion that must be held. It is very clear to us now that the level of tariff we have now is not obtainable. It will be a subject of negotiation between government, the existing investors and new investors as well as consumers.


“We will try to attain to optimal level that will make an impact on the tariff. The starting point will be the Discos.”


Details soon…


https://www.vanguardngr.com/2017/10/breaking-fg-sell-discos-new-investors-mohammed/

Long overdue.

Until this is done, we will remain in darkness.

I wonder why people will be paying for darkness month in month out.Some are haven't seen light for months yet these shameless discos will keep bringing monthly bill without any iota of shame. They refused to provide their customers prepaid Meters.worst still is if U manage to get one through the back door,those criminal officials will feel like strangling you to death because they won't see anyway to milk you again.
We really need a new mindset In this country. everybody wants to be rich even without considering if they are hurting others. EEdc officials are the worst. how can someone be paying #10k for a 2bedroom flat with minimum of 2hrs of power supply every day..
These discos are milking us dry oooooooo

Good and sound idea

APC bubuhari

all talk no action

walk the talk

hisgrace090:
Long overdue.

Until this is done, we will remain in darkness.

Nope!! Discos only distribute what TCN transmits to them. If your Oga gave you #1000 to be shared among 10000 people, and the 10000 people start complaining that their shares of the money are not enough, will they blame you or your Oga? You are just the "sharer"

Even if government takes back the discos, if we are still generating between 3000-4000MW for a population of more than 170million, we will still be in darkness

Nobody is even talking about the current transmission capacity of TCN because it's still been managed by government. Government in my opinion should focus more on generating more megawatts first, increase her transmission capacity before blaming the discos

'they' want to achieve 2 things...

1. become shareholders in the power sector with the money they have looted since that sector is going to be the new cash cow;

2. increase tariff so they can quickly recoup their capital.


the DISCOs have no choice but to agree since that would guarantee them easy increase in tariffs & save them from continuous harassment from the FG...

that said, the main problem is transmission which is still fully controlled by the FG through a private firm so saying the power sector has been privatised as if the government has no hand at all in it, is the usual propaganda rhetoric of this 'regime'.

let me wait and see the outcome of this because from the topic am observing two things ('FG to" and "Lie Mohammed")

After rainy season Baba go take cover for London as usual.

They should just tell us they wanted to bring in their own cronies to share in the electricity fraud via estimated billings e.tc and want to milk Nigerians more for the darkness / sufferings currently being generated.

So who's fooling who? Bunch of jihadist fraudsters.

obaataaokpaewu:
Nope!! Discos only distribute what TCN transmits to them. If your Oga gave you #1000 to be shared among 10000 people, and the 10000 people start complaining that their shares of the money are not enough, will they blame you or your Oga? You are just the "sharer"

Even if government takes back the discos, if we are still generating between 3000-4000MW for a population of more than 170million, we will still be in darkness

Nobody is even talking about the current transmission capacity of TCN because it's still been managed by government. Government in my opinion should focus more on generating more megawatts first, increase her transmission capacity before blaming the discos

You never hear say DISCOs dey reject power from the TCN?

oweniwe:


You never hear say DISCOs dey reject power from the TCN?

Lol.... I know Discos reject load but they have their own reasons for that from their own point of view. They are the ones that bare all the losses. Many illegal connections, meter bypass and consumers using energy free who have sworn never to pay that electricity is free. For every #100 collected, #24 only goes to the Discos, the other #76 goes to Nbet and other market operators and every disco must account for any load issued to it, so for them rejecting load is majorly to make sure they can pay back the amount of loads they picked.