To address the epileptic power failure that seems unabated, the House of Representatives have mandated electricity distribution companies, DisCos, to accept a N500 billion recapitalisation to enhance their financial muscle and ensure they can effectively deliver required services to the public.
This is coming on the heel after a motion was adopted titled “Need to Address the Activities of Distribution Companies in Nigeria,” sponsored by Ayokunle Isiaka, the member representing the Ifo/Ewekoro Federal Constituency of Ogun State on the platform of All Progressives Congress, APC, at plenary yesterday.
Arguing the motion, Isiaka recalled that recent actions by DisCos have posed a significant threat to the nation’s economic stability and the welfare of Nigerians.
According to him, despite Nigerians paying through their nose for electricity metres and charges, DisCos are still demanding additional payments for replacement of the metres under controversial circumstances.
The lawmaker said: “The House notes that Nigerian consumers paid for electricity meter installation, but DisCos are demanding additional payments for the replacement of these metres under dubious pretences, undermining consumer trust and exacerbating financial burdens.
“The House is concerned that consumers are being coerced into paying for metres they have already financed, putting additional financial strain on households and businesses already facing economic challenges.”
‘DISCOs sabotaging economic development’
Explaining further, Isiaka described the DisCos activities to economic sabotage where essential services are used against the citizen, stifling the economic growth and development.
He queried that despite constant regulatory oversight and demands for accountability from the committee on power, DisCos had remained recalcitrant, operating with impunity and disregarding consumer rights.
After the motion was adopted, the speaker, Tajudeen Abbas, called on DisCos to undergo recapitalisation of no less than N500 billion, insisting that only those with the required financial capacity, and can provide maximum service satisfaction to consumers, would be allowed to continue operating.
Consequently, the lawmakers directed the Federal Ministry of Power to declare DisCos as non-state actors and take immediate measures to address their reckless actions which, it claimed, threatened the nation’s economy.
Meanwhile, the house has also mandated its committee on power to investigate the activities of DisCos with the intent to hold them accountable and safeguard consumer rights.
The committee was equally tasked with carrying out awareness campaigns on consumers’ rights and examining the implementation of strict regulations governing DisCos to ensure transparency and fairness in dealings with consumers.
