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The House of Representatives on Wednesday advised electricity distribution companies (DisCos) across Nigeria to undergo a recapitalisation exercise to the tune of N500 billion.
The advice was given after the approval of a motion titled “Need to Address the Activities of Distribution Companies in Nigeria”, sponsored by Ayokunle Isiaka (APC, Ogun).
While presenting the motion, Isiaka explained that the measure is aimed at strengthening their financial capacity to effectively deliver reliable electricity services to Nigerians.
He stressed the growing concerns over the operations of electricity distribution companies (DISCOs) across the country, noting that their activities have increasingly threatened Nigeria’s economic stability and the welfare of its citizens.
The lawmaker expressed dismay that despite Nigerians paying for electricity meter installations, DISCOs often demand additional payments for meter replacements under questionable circumstances, further compounding the financial burden on consumers.
“The House expresses concern that consumers, who had previously paid for electricity meter installations, are now being pressured into making additional payments for replacements. This practice imposes undue financial strain on households and businesses already grappling with economic hardships.”
He decried the “sabotage of economic development” by electricity distribution companies (DISCOs), accusing the companies of exploiting essential services to the detriment of citizens, thereby stifling economic growth and progress.
The lawmaker further lamented that despite consistent regulatory oversight and demands for accountability by the House Committee on Power, DISCOs have continued to operate with impunity and a blatant disregard for consumer rights.
In adopting the motion, the House directed the Federal Ministry of Power to classify Distribution Companies (DISCOs) as non-state actors and to take urgent measures to address their reckless practices, which pose a significant threat to the nation’s economy.
The House also directed its committee on power to investigate the activities of electricity distribution companies (DISCOs) in Nigeria. This move is aimed at ensuring accountability and safeguarding consumer rights.
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