Bureau of Public Enterprises (BPE) Director-General Mr. Alex Okoh has called on stakeholders in the Nigerian Electricity Supply Industry (NESI) on Wednesday to address the non-cost reflective tariff of the 11 Electricity Distribution Companies (DisCos) or make provision for subsidies payment for the utilities.
“I am not taking away the fact whether the DisCos lack capacities. We need to address the price structure of the utilities or come up with some subsidies,” he said.
Okoh, however, announced that the World Bank was bringing in $2billion to address the distribution sub-sector to address the challenges of the DisCos.
Read Also: Coronavirus: London Confirms First Case
The BPE boss, while speaking with reporters in Abuja, insisted that there was nothing wrong with the manner of the power sector assets privatisation exercise.
Rather, he said: “The problem, as far as I am concerned, is not the privatisation of the entire power sector value chain. The problem is the implementation of the design of the reform of the power sector. What I will not advocate is the renationalising of the power sector.”
On whether the Federal Government was reviewing the privatisation because of the underperforming DisCos, Okoh said the government has activated various initiatives to look into the power sector operations.
He stated that owing to the initiatives, by the end of next year, power supply would have hit 7,000 megawatts (mw).
The BPE boss also noted that the Federal Government was, perhaps, wrong in its choice of the core investor of the NICON Insurance Company
Advertise or Publish a Story on EkoHot Blog:
Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.
Citizen journalists will receive a token as data incentive.
Call or Whatsapp: 0803 561 7233, 0703 414 5611
