logo

Home | Music | Video | News | Mixtape | Sports | Tech | Others

   

Want to Contact Us? Send us an Email Or WhatsApp:
Info@africanbaze.com | +2347065438173



« | »

Electricity Distribution Companies To Be Sold To New Investors – FG

The Federal Government has announced that they’re looking into getting new investors in the energy market to boost power production.

The 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, in Abuja, Thursday.
Discos have been recognised as obstacles to the nation’s quest for efficient electricity sector.
Mrs Mohammed said,
“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.”




ADVERTISE ON AFRICANBAZE  

Have Something Interesting/Informative you want us to Post on AfricanBaze? Send to info@africanbaze.com

Like Us On Facebook

Follow Us On Twitter

Posted by PRINCE O. On October 14, 2017

Categories: GIST

br

No Responses Yet

Leave a Reply

Your Name:

Your Message:

NOTE:- After Dropping your comment, Wait for few minutes, your comments will appear after Moderation!!

« | »





About AfricanBaze.com

You might be an artist who would like to introduce yourself and your work here or maybe you’re a business with a mission to describe. Relatedmore →