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NEC Not Taking Over DISCOS — VP’s Office

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The Federal Government, on Friday, refuted reports making rounds in the media that it may take over electricity Distribution Companies.

In a statement signed by the Senior Special Assistant to the President on Media and Publicity, Laolu Akande, the FG described the reports as erroneous and misleading.

“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,” the statement read

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