Discos: We Were Eligible To Only N58bn Of CBN’s Power Sector Fund
The electricity distribution companies (Discos) have said the Central Bank of Nigeria (CBN) reserved just about N58.45 billion or 27.75 per cent of its N213 billion power sector intervention fund for the Discos,...
Fashola Expending Taxpayers’ Funds On Unwarranted Projects – Discos
The confrontation between the power distribution companies and the Minister of Power, Works and Housing, Babatunde Fashola, continued on Sunday, with the Discos firing back at the minister, accusing him of expending taxpayers’ money on unwarranted...
Power Supply Remains Low At 3,838MW As Fashola, Discos Bicker
As the Minister of Power, Works and Housing, Mr. Babatunde Fashola, and the 11 electricity distribution companies (Discos) continue to trade blame over poor service delivery, the total volume of electricity available for distribution to...
NERC Scrutinises Discos’ Capital Spends Before Tariff Review
The Nigerian Electricity Regulatory Commission (NERC) would be taking a deeper look at how the 11 electricity distribution companies (Discos) have utilised the capital expenditure allowed for them in their respective existing tariffs before agreeing to sign...
N1.02trn Power Bailout Funds fail to Lift sector
The Federal Government has committed the sum of N1.023 trillion in bailouts in the form of low interest loans and grants to Nigeria’s power sector within the last three years yet the country is unable to witness...
Auditors Report Huge Loss, Fear Collapse Of DisCos
Financial auditors engaged by some of the electricity Distribution Companies (DisCos) such as PriceWaterhouseCoopers (PWC) and Deinde Odusanya and Co have expressed uncertainty over the continued existence of the companies as they declared huge operation losses in...
