“We Are Not Frightened By Discos’ Threat To Quit”
Even if push comes to shove, the federal government is not afraid.
That is the message the federal government is sending to Nigeria’s electricity distributors, Discos who have threatened to pull their investment from the power sector after engaging in a spat with Power minister, Babatunde Fashola.
Punch reports that senior officials of the Federal Ministry of Power, Works and Housing, who did not mention their names, said the government wasn’t afraid of the discos and that the power distributors knew the procedures to follow if truly they wished to quit the business.
They added that the government would not beg them not to exit the sector.
Recall that on Tuesday, the power distributors threatened to quit the sector and expressed willingness to resell the firms at discounted rates to Fashola or any other interested buyer.
Investors in the Discos, who came out 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, also called on the minister to urgently convene a meeting to address the challenges in the sector.
The successor companies of the defunct Power Holding Company of Nigeria were officially privatised on November 1, 2013 and were sold to investors that year.
But since the sector was privatised, many power users have been complaining about poor electricity supply by the distribution firms, a development that recently led to heated exchanges between Fashola and the electricity distributors.