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Discos say they are ready to quit Nigeria’s power sector, resell firms at discounts

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The disagreement between the Federal Government and power distribution companies continued on Tuesday, with the Discos threatening to quit the sector and expressed willingness to resell the power assets at discounted rates.

Investors in the Discos came out this time around to speak for their companies rather than sending the spokesperson for the Association of Nigerian Electricity Distributors, Sunday Oduntan, as demanded by the Minister of Power, Works and Housing, Babatunde Fashola. They also called on the minister to urgently convene a meeting with investors in the Discos if he truly wanted the sector to make progress, adding that they were willing to resell the power assets to the Federal Government or any interested buyer.

Speaking at a press conference in Abuja on Tuesday, the investor in Jos Electricity Distribution Company Plc, Tukur Modibbo, stated that the power firms were doing their best but were willing to resell the companies at discounts to whosoever was interested in them. The Chief Operating Officer, Ibadan Electricity Distribution Company, John Ayodele, also stated that the Discos would quit without hesitation if they had an opportunity to do so.

Source: The Punch

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