*Mulls reversal of Electricity Privatisation
ABUJA–THE Federal Government yesterday said that Distribution Companies, DISCOs have failed in supplying adequate electricity to Nigerian consumers.
Government said it will no longer provide Intervention funds as subsisidy to the DISCOs and may take drastic actions against the companies as it would not continue to subside the companies without commensurate result.
The Federal Government concern is that the DISCOs have consistently failed to efficiently make use of the financial intervention.
The Minister of Power, Saleh Mamman disclosed this while briefing State House correspondents at the end of the Federal Executive Council, FEC, presided over by President Muhammadu Buhari at the Council Chamber, Presidential Villa Abuja.
He said that his Ministry submitted a memo to the council to decide the fate of electricity distribution companies (DISCOs) that have failed to honour their commitments to buy and distribute adequate power generated for them by the generation companies (GENCOs)