Electricity: Senate Seeks Divestment Of 40% Govt’s Stake In Discos - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Editor 4
August 14, 2019
The Senate has urged the Federal Government todivest its 40 per cent stake in electricity distribution companies DisCos toforeign investors.
Senate President Ahmed Lawan gave the advice inAbuja when he received the management team of the Transmission Company ofNigeria TCN led by its Managing Director Usman Mohammed.
In a statement by the TCN, Lawan said experts in thefield should be given an opportunity to invest in the sector.
He stated that it is not in the interest of thegovernment to keep disbursing bailout funds to DisCos without a commensurate improvementin the power supply.
Lawan also assured the TCN of Senate’s support forits proposed recapitalisation of DisCos and the transmission rehabilitation andexpansion programme TREP.
He also expressed displeasure with the report on supervisory control and data acquisition, SCADA contracts awarded three times in the past without success.