Minister of Power, Works and Housing, Mr. Babatunde Fashola, will
today meet with the management of distribution companies (DISCOs), with a
view to acquainting himself with them and also intimate them about his
expectations from them on the way forward.
The meeting will hold at the minister’s office this afternoon.
Fashola had earlier met with Vice President Yemi Osinbajo, and later with the Chairman of the Nigerian Electricity Regulatory Commission, NERC and the DISCOs, to discuss the contentious issue of tariff.
The minister had noted that the DISCOs needed to perform better, adding that there were several options open to them including recapitalisation by floating their shares in the capital market to raise the necessary funds to retool and run their operations.
He had also agreed that some deliverables be set for the DISCOs, as funding will no longer be accepted as an excuse for non-performance.
According to Amadi, the Minister, NERC and the DISCOs will be meeting today for a formal introduction to Fashola, while NERC discusses the deliverables upon which tariff increases will be approved for the DISCOs.
“NERC is working on service level agreements with the DISCOs, which will be tied to deliverables that will go with new tariffs, going forward,” he told Vanguard.
“The meeting with them (DISCOs) is strictly to talk about tariff. The minister also wants to meet with them to introduce himself to them and urge them to brace up to their responsibilities.”
Fashola had earlier met with Vice President Yemi Osinbajo, and later with the Chairman of the Nigerian Electricity Regulatory Commission, NERC and the DISCOs, to discuss the contentious issue of tariff.
The minister had noted that the DISCOs needed to perform better, adding that there were several options open to them including recapitalisation by floating their shares in the capital market to raise the necessary funds to retool and run their operations.
He had also agreed that some deliverables be set for the DISCOs, as funding will no longer be accepted as an excuse for non-performance.
According to Amadi, the Minister, NERC and the DISCOs will be meeting today for a formal introduction to Fashola, while NERC discusses the deliverables upon which tariff increases will be approved for the DISCOs.
“NERC is working on service level agreements with the DISCOs, which will be tied to deliverables that will go with new tariffs, going forward,” he told Vanguard.
“The meeting with them (DISCOs) is strictly to talk about tariff. The minister also wants to meet with them to introduce himself to them and urge them to brace up to their responsibilities.”