The restructuring of five out of the country’s 11 electricity distribution companies was on Tuesday announced by the Federal Government.
The affected companies are Port Harcourt, Kano, Kaduna, Ibadan and Benin distribution companies.
The privately-owned firms have been struggling to provide power since the government handed over control in 2013. The government maintains 40 per cent holding in the firms, however, through the Bureau of Public Enterprise, BPE.
Power sector in Nigeria has been dysfunctional for decades, generating and sharing an average 4,000 megawatts to about 200 million people.