The House of Representatives has asked Nigeria’s Electricity Distribution Companies (DISCOs) to raise N500 billion to improve their finances and help them better serve the public.
This follows a motion titled “Need to Address the Activities of Distribution Companies in Nigeria,” introduced by Hon. Ayokunle Isiaka from Ogun State. Isiaka raised concerns that DISCOs have been demanding extra payments from Nigerians for replacing electricity meters, even though people have already paid for their installation. He said this practice is unfair and adds to the financial strain on Nigerians who are already struggling with economic difficulties.
In response, the House, led by Speaker Abbas Tajudeen, ordered DISCOs to raise at least N500 billion in capital. Only the companies that meet the financial requirements will be allowed to continue operating. The House also called on the Federal Ministry of Power to treat DISCOs as independent entities and take action against their harmful practices. Lastly, the House asked its Committee on Power to investigate the activities of DISCOs to ensure they are held accountable and consumers’ rights are protected.
