Government will not repossess the Distribution Firms – ANED Executive Director assures Investors

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Electricity Distribution Companies (DisCos), under the aegis of the Association of Nigerian Electricity Distributors, (ANED), on Sunday, August 18, disclosed that they are committed to resolving challenges in the Power sector in the country, as the government will not repossess the Distribution Firms.

The DisCos, encouraged Power Investors in the country to continue to invest in Power, dismissing reports that government would take over Distribution Firms anytime soon.

Sunday Oduntan, the Executive Director, Research and Advocacy, ANED, who confirmed the report to Newsmen, disclosed that the government would not repossess the Distribution Firms as the DisCos are working with the Federal Government to address the challenges of retail electricity distribution.

He ruled out the possibility of government paying N736 billion to owners of the DisCos, since the government was yet to pay Investors in Yola DisCo, months after reaching an agreement with them, in order to take back the Power Firm.