Federal Government to sell disco’s shares to new investors

The Federal Government on Friday declared that Benin, Kaduna and Kano electricity distribution companies were the worst-performing Discos among the 11 power distributors in Nigeria.

 

It stated that based on this, the government through the Bureau of Public Enterprises and the Nigerian Electricity Regulatory Commission had resolved to sell the majority interest in the three Discos to competent investors.

 

The Director-General, BPE, Alex Okoh, disclosed this in a statement he personally signed while reacting to the resistance by some Discos on the move by Fidelity Bank and the government to take over and restructure poor-performing Discos.

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