FG declares Discos failures, 5 years after privatization

The Nigerian Government has said distribution companies in the country have failed to meet the performance agreements signed by them during the privatisation of the power sector in the country five years ago.

The verdict was declared by the Nigerian Electricity Regulatory Commission, Niger Delta Power Holding Company and Bureau of Public Enterprises, insisting that power distributors had defaulted on several agreements since they took over the power assets on November 1, 2013.

The Managing Director, NDPHC, Chiedu Ugbo, while speaking at the Nextier Power Dialogue in Abuja, said that while power generation had recorded a huge success since the sector was privatised, distribution had not been impressive.

Source: Ripples

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