Chigbo-Anichebe-360x225The Director-General of the Bureau of Public Enterprises (BPE), Mr. Benjamin Ezra Dikki, has said investors would inject $1.8 billion into the power distribution companies (discos) when private investors take them over.

Dikki said the investment would cover, among others, metering, new customer connections and network expansion, reduction in number of customer interruptions as well as health, safety and environmental practices.

A statement by BPE’s Head, Public Communications, Mr. Chigbo Anichebe, quoted Dikki as speaking in Abuja on the development.

On the implications of the National Integrated Power Project (NIPP) to power transactions, Dikki said the private sector showed a strong will to participate in the generation and distribution sectors of the electricity industry.

The BPE chief explained why the Federal Government decided to engage a Management Contractor for the Transmission Company of Nigeria (TCN).

The statement noted that in a presentation, titled: The Status of PHCN Transaction and Implications for the NIPP, Dikki said there is need to place TCN on the path of best practice, reliability and self-sustenance.

He said this would ensure predictability and security of the transmission system, which informed government’s decision.

The BPE chief predicated the decision on the belief that the management contractor would bring in invaluable experience for the sector’s development, provide clear targets and incentives, build capacity of TCN workers to prepare them for future roles, among others.

Information from The Nation was used in this report.