Breaking: FG to sell DisCos to new investors- Mohammed

By Emma Ujah, Abuja Bureau Chief & Emmanuel Elebeke

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…

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

Isooit.. Kwantinu

Crime, court case

They better do that fast as the current ones are nothing but bunch of clownish politifians, hiding under the disguise of investors to exploit gullible nigerians, without power improvement.

This is long overdue with the influx of more players in the industry it will enhance greater efficiency.

Things that works well in other countries don't ever work in Nigeria because of Nigerians.

Are we cursed?

Better

I hope we don't make same mistake selling to cronies

Stealing and Loan no work................now na to sell property. This 2019 must be loaded

Sold and resell till it get to better hands who knows the value light everywhere for 24/7..ask NITEL Where thou rested...

Nice one

Tariff increase on the horizon! Can Nigerians accept and sustain any increase now?

In as much as it's commendable, the hope is that competent and capable investors should be selected to take control of the various discos to avoid a repeat of the quagmire we have found ourselves in with incompetent companies in charge of power supply.

Long overdue. The last administration sold it to its incompetent cronies.

All I see in buhari's government is corruption and propaganda

HMM

Ye

Abeg come and buy IBEDC

Sell a.e.d.c

they want to sell disco pls u people should add buhari to it and sell both disco and buhari bcus these two are the problem we have in Nigeria

This story no dey finish ??

So IKEDC is going

One day Una go sell naija to new investors, shameless people.

dem wan sell again? na wa o. hope e go better this time

.

EEDC especially.
they should just resell it to another investor.

This will not change anything.

Holistically, the financial model of the electricity business is very poor and inefficient.

I have used over 100 units of electricity in the last month with out paying a dime. Why, I don't have a meter and if the IKEDC peeps come around , I give them 500.

Even if I had a meter, I could still pay part of my bill and still owe the remaining. Who bears the brunt of my debt?

Discos only make 22% of the total sum. So how can they buy bulk electricity and how can gencos pay foot their bills.

Let's us focus on maximum revenue generation from even the little power we are generating. Then electricity can be a viable business with the pontential of attracting investors.

lightheart:
Breaking: FG to sell DisCos to new investors- Mohammed

By Emma Ujah, Abuja Bureau Chief & Emmanuel Elebeke

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…

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

another story will be heard after that,politricks at its best�

Wetin dz mumu fg neva sell finish fr this country I sure say dem don dey negotiate Nigeria with people wey go buy am sef

Everything sell, sell and sell, i hope our kids will meet something worth Nigerian