Friday , May 24 2019
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You are failures, FG tells Discos

The Federal Government has said distribution companies (Discos) in the country have failed to meet the performance agreements signed by them during the privatisation of the power sector in the country five years ago.

The verdict was declared by the Nigerian Electricity Regulatory Commission, Niger Delta Power Holding Company and Bureau of Public Enterprises, insisting that power distributors had defaulted on several agreements since they took over the power assets on November 1, 2013.

The Managing Director, NDPHC, Chiedu Ugbo, while speaking at the Nextier Power Dialogue in Abuja, said that while power generation had recorded a huge success since the sector was privatised, distribution had not been impressive.


About Lanre Oyetade

A multiple award winner in Economics and business journalism, Lanre Oyetade has served close to two decades in the media industry, spanning different notable stables, where he is privileged to have risen to the position of a title editor. A masters degree holder in Economics from the University of Lagos and doctoral student at the Babcock University, he is a winner of the prestigious NMMA Capital Market Award for two consecutive years (2004 & 2005), and was also a nominee for the body’s banking and finance and money market awards for two years. In 2013, he also won the Most Outstanding Business-Reporting Title Editor award of the National Institute of Marketing of Nigeria (NIMN). A minister in the LORDS’s vineyard, he has been an inspirational speaker and resource person at many corporate and religious fora since early 2004, and has so far authored three books on the capital market; on personal effectiveness, and on personal finance, in 2008 and 2014, respectively.