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FG moves to block licenses of non-performing DisCos over dwindling power supply

It was disappointing for the sector to still produce between 3,000 megawatts and 4,000 megawatts for the past 50 years to 60 years - Minister of Power

FG moves to block licenses of non-performing DisCos [Thewill Nigeria]

This was revealed by the Minister of Power, Adebayo Adelabu while speaking with newsmen recently in Abuja.

We are not unaware of the epileptic supply of electricity. We are working hard to reverse the situation. The choice of my appointment as the Minister of Power is not a mistake.”

“We are leaving no stone unturned to ensure that we achieve this. Nigerians’ complaints are legitimate. Nigerians are suffering from naira losing value, insecurity, lack of enough supply of electricity and high fuel cost. We are not unaware of the plight of Nigerians” the Minister said.

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The Minister's threat comes amid the extension of the operational licenses granted to the DisCos by the Nigerian Electricity Regulatory Commission (NERC).

Recall NERC had, last year, confirmed that DisCos were given a 15-year license as against the 10 years being widely reported.

The Commission’s Chairman, Engr. Sanusi Garba had explained that initially, DisCos were given a 10-year license but upon privatisation, the license was extended by five years. He added that the DisCos now have a 15-year license which will expire five years from now which is 2028.

However the Power Minister upon inauguration, had initiated a high powered probe to examine the extension of the operational license of distribution companies whose performances were considered abysmally poor.

Adelabu, while ordering NERC to withdraw the license of non performing DisCos, bemoaned the low performance in the power industry despite the huge investments made in the sector by the FG.

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According to him, it was disappointing for the sector to still produce between 3,000 megawatts and 4,000 megawatts for the past 50 years to 60 years adding that the problem in the industry is fundamental but not insurmountable.

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