ANED says FG failed to release N400b subsidy to Discos

The Association of Nigerian Electricity Distributors (ANED) has lamented the Federal Government failed to release N400billion to the 11 electricity Distribution Companies (DisCos).

It expressed concerns about the recent “restructuring” of the five electricity distribution companies (DisCos) as announced by the Bureau of Public Enterprises on July 5 in collaboration with the Nigerian Electricity Regulatory Commission (NERC).

Its Executive Director of Research and Advocacy, Chief Sunday Oduntan made the disclosure in a statement.

However, he said, “because they view the “restructuring” to be inconsistent with all the guidelines and processes necessary to comply with the framework of privatization agreements and the rule of law, they believe that it is reasonable to conclude that the resultant outcome has been an expropriation or backdoor renationalization of the DisCos by the Federal Government of Nigeria.