Stories by Chineme Okafor in Abuja
The Nigerian Society of Engineers (NSE) has advised the federal government to cut down its financial support to private owners of electricity distribution companies (Discos) and generation companies (Gencos) in the country.
The NSE in a communiqué at the end of its 52nd National Engineering Conference, Exhibition and Annual General Meeting (AGM) held in Kano, claimed that electricity Gencos, Discos and the Transmission Company of Nigeria (TCN) have not done enough to improve power supply in Nigeria.
It therefore, advised the government to reduce its financial support to the sector. The government had provided N213.4 billion bailout in 2014 through the Central Bank of Nigeria (CBN)-Nigeria Electricity Market Stabilisation Facility (NEMSF) and N701 billion through the same CBN in 2017 to the power sector. It also intends to provide addition N600 billion already approved to support the sector.
However, the…
Source: Thisday Newspaper
