The Senate has urged the Federal Government to divest its 40 per cent stake in electricity distribution companies DisCos to foreign investors.
Senate President Ahmed Lawan gave the advice in Abuja when he received the management team of the Transmission Company of Nigeria TCN led by its Managing Director Usman Mohammed.
In a statement by the TCN, Lawan said experts in the field should be given an opportunity to invest in the sector.
He stated that it is not in the interest of the government to keep disbursing bailout funds to DisCos without a commensurate improvement in the power supply.
Lawan also assured the TCN of Senate’s support for its proposed recapitalisation of DisCos and the transmission rehabilitation and expansion 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.
