Presidency Debunks Reports That FG May Take Over DisCos

The Presidency has debunked reports by a section of the media that it may take over electricity distribution companies (DisCos).

In a statement, the Senior Special Assistant on Media and Publicity to the Vice President, Laolu Akande, said, “We have read some misleading media reports regarding the deliberations of the National Economic Council on the issue of the ownership of electricity Distribution Companies, DisCos, at its meeting yesterday. Some of the erroneous reports was a headline that said: ‘FG May Take Over DisCos.’

“For the purposes of clarity and accurate records, the ONLY issue which came up for discussions at NEC yesterday was about the quantum of State governments’ interests, if any, in the 40% shares retained by the Nigerian Government in each of the DisCos at the point of privatization. A Committee was then constituted to review historical records and advise the Council accordingly.”