DISCOs should recapitalise, expand capacities —
THE Transmission Company of Nigeria, TCN, has called for the recapitalisation of Electricity Distribution Companies, DISCOs, in order to expand their capacities, required to provide adequate and stable power to consumers.
The Managing Director/CEO, TCN, Mr. U.G Mohammed, who disclosed this during his recent visit to Vanguard in Lagos, stated: 8220;The DISCOs need to invest a lot of funds to build their capacities to deliver much power to consumers nationwide. Currently, they do not have that money. In fact, most of them still owe the banks for loans raised to procure the assets. Recapitalisation will enable them get more money to put requisite infrastructure, including meters in place to deliver electricity to consumers. 8221;
According to him, 8220;What we are saying is since government has 40 per cent interest in the companies, it should also provide commensurate funds for investment. For instance, if we need to invest N4.3 billion, the private companies and the government should contribute 60 per cent and 40 per cent of the required fund respectively. 8221;
He said: 8220;Metering is very important and many countries, including developing nations have done it. When I went to Burkina Faso, I realised that every household has its meter. Nevertheless, we have not yet been able to achieve that in Nigeria. People are willing to pay, but the meters are just not available.
8220;Why are the meters not available so that once you buy, accredited experts can get it installed for consumers? It appears that the DISCOs, that make more money, did not do enough to provide the meters. They may not also be providing adequate support towards ensuring that the meters are available under the Meter Asset Providers, MAP. 8221;标签：