By Emman Ovuakporie & Chris Ochayi
ABUJA— Bureau of Public Enterprises, BPE, yesterday, said most of the Distribution Companies, DISCOs, in Nigeria were technically insolvent.
Director-General of the bureau, Alex Okoh, made this revelation during an interactive session at the instance of House Committee on Power, with critical stakeholders in the Nigeria’s power sector, including Nigeria Bulk Electricity Trading Company, NBET; Electricity Distribution Companies, DISCOs, and Generation Companies, GENCOs.
The D-G in his submission, said there was need to immediately solve the challenges bordering on price structure and liquidity of DISCOs.
He said: “We need to solve the liquidity challenge. How do we make the industry viable in terms of liquidity? If we take all the energy that the DISCOs buy and the energy sold, assuming there is minimal losses on collection…
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