The private investors personally collected their share certificates from the then President Goodluck Jonathan on September 30, and took over the management of the assets from November 1, 2013.From the DisCos, the government got $1.3bn , but investigations reveal that electricity consumers still get epileptic supply. They also buy meters, transformers, and other electrical materials across the 11 privatized DisCos.
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INVESTIGATION: After acquiring $1.3bn DisCos, investors leave meter, transformer burdens to consumersSix years ago, the Federal Government unbundled the Power Holding Company of Nigeria (PHCN) and handed over 18 utility firms to private investors.
Source: PremiumTimesng - 🏆 3. / 78 Read more »
Despite acquiring $1.3bn DisCos, investors shift meter, transformer burden to consumers – Daily TrustSix years ago, the Federal Government unbundled the Power Holding Company of Nigeria (PHCN) and handed over 18 utility firms to private investors. Government raked in $2.5 billion (about N916.575bn) from the transaction involving six Generation Companies (GenCos) and 11 Distribution Companies (DisCos).
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Senate To Investigate Gencos, Discos Over Unsteady Power SupplySenate To Investigate Gencos, Discos Over Unsteady Power Supply
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Senate probes GenCos, DisCos over unsteady power supply - Vanguard NewsThe Senate has mandated its Committee on Power to investigate the activities of power generating and distribution companies to unravel the cause of unsteady power supply in Nigeria. The investigating committee has four weeks within which to submit its report to the Senate for consideration. The decision by the upper chamber to probe power generation,Read More
Source: vanguardngrnews - 🏆 5. / 75 Read more »
Senate probes Gencos, Discos over unsteady power supply – Daily TrustThe Senate yesterday mandated its Committee on Power to investigate the activities of power generating and distribution companies. This was sequel to a motion by Senator Chukwuka Utazi who said beyond generation and transmission, the discos lacked the financial and technical capacities required, thereby resulting in their inability to pay for power which gencos delivered …
Source: Daily Trust - 🏆 13. / 51 Read more »
Despite acquiring $1.3bn DisCos, investors shift meter, transformer burden to consumers – Daily TrustSix years ago, the Federal Government unbundled the Power Holding Company of Nigeria (PHCN) and handed over 18 utility firms to private investors. Government raked in $2.5 billion (about N916.575bn) from the transaction involving six Generation Companies (GenCos) and 11 Distribution Companies (DisCos).
Source: Daily Trust - 🏆 13. / 51 Read more »