The Bureau for Public Enterprises (BPE) has said the take-over of four electricity Distribution Companies (DisCos) namely; Kaduna, Kano, Ibadan and Port Harcourt DISCOs has been concluded successfully.
BPE Director General, Mr. Alex Okoh, who disclosed this in a presentation made at a virtual meeting of the National Council on Privatisation (NCP) held earlier last week Tuesday, added that the challenge in the takeover of the Benin DisCo is being addressed.
This is as the vice president, Prof Yemi Osinbajo said the inauguration of a board for the Nigeria Electricity Liability Management Company (NELMCO) will enhance ongoing efforts to resolve liabilities relating to tariff shortfalls for distribution companies, among other challenges plaguing Nigeria’s power sector. Osinbajo gave the assurance in his remarks delivered virtually on Friday at the inauguration of the new board of NELMCO.
The company has been running without a duly constituted board since the first one was inaugurated in 2013 and dissolved shortly after. “Today’s inauguration marks an important milestone in the bid to resolve the liabilities relating to tariff shortfalls in the power sector (specifically for Distribution Companies), and to provide a veritable mechanism for managing the very dynamic nature of the liquidity challenges of the power sector in Nigeria,” the Vice President said, according a statement by his spokesman, Laolu Akande.
