Chineme Okafor in Abuja
Operators of the electricity distribution companies (Discos) in Nigeria’s power sector have kicked against the federal government’s selection of the Transmission Company of Nigeria (TCN) to manage the N72 billion financial investment it intends to put in the Discos’ networks.
The government had hinted it would invest about N72 billion in the Discos to upgrade their networks and enable them distribute about 2000 megawatts (MW) of electricity it claimed was laying idle. It also noted the investment would be managed by the TCN.
But operators of the Discos on Sunday indicated they would not back such decision, stating they still maintain up to 60 per cent shareholding in the networks and as part of Nigeria’s company law, their boards should be allowed to deliberate and decide on the conditions for such…
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