FG Gives Fresh Details On N72Billion Investment Plans For Power Discos


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The federal government has provided more details on the N72billion financial facility it plans to provide for the 11 electricity distribution companies (Discos) in Nigeria to upgrade and expand their networks.

The Discos' privatisation terms are such that that the government has 40percent shareholding in them while the core investors of the Discos maintain 60percent shareholding.

The Minister of Power, Works & Housing, Mr Babatunde Fashola, on Sunday, disclosed the government's plan to invest the sum in the Discos.

He apparently noted that in Yola, financial facility would help the Discos expand their networks to be able to take stranded electricity from the generation companies(Gencos) to consumers in the country.

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