Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

Discos to invest N935 billion in 5 years amidst recapitalisation calls

Abiola Odutola by Abiola Odutola
October 17, 2019
in Business News
NERC, power, distribution, electricity, companies, Recapitalisation of Discos, Power Distribution Companies to retain 132/330 kV customer - NERC , FG takes over Yola DisCo, investors to get N26.9 billion refund , DisCos, TCN want Nigerians to pay more for electricity supply 
Share on FacebookShare on TwitterShare on Linkedin

The distribution companies in the power sector, Discos, have mapped out plans to invest N935bn in their networks within five years as calls for their recapitalisation heightens.

The move came after some stakeholders in other arms of the power business called for the recapitalisation of the Discos.

Nigerian Electricity Regulatory Commission (NERC) disclosed that on the Performance Improvement Plans of the Discos showed that the power firms had mapped out over N900bn to be invested in their networks between 2019 and 2024.

RelatedPosts

FG restructures 5 indebted DisCos, banks take over shares

NERC says 45 local firms bidding for mass metering programme, phase 2 to commence in August

In their different Performance Improvement Plans submitted to the NERC, the Discos revealed how they planned to upgrade their distribution networks between 2019 and 2024.

According to them, their investments would be on facilities such as meters, transformers and power distribution lines. It also showed that Abuja, Ikeja, Eko and Enugu Discos planned to invest N56 billion, N105 billion, N78.6billion and N118billion, respectively over the five-year period.



[READ ALSO: ANED explains why the recapitalisation of Discos may not work]

While Benin will invest N287 billion, Kano, Kaduna and Ibadan Discos will invest N49.8bn, N112bn and N83bn, respectively during the same period, according to the documents.

The power firms stated that with such investments in their respective networks, their output would be enhanced in order to meet the demands of operators and electricity consumers across the country.

Discos, NERC, electricity, Power Sector: Nigeria received $961 million loan from World Bank and AfDB in 2018

One major operator that had repeatedly called for increased investments in distribution networks is the Transmission Company of Nigeria.

The TCN had repeatedly called on the Federal Government to mandate the Discos to recapitalise by investing massively in their networks in order to effectively distribute power to consumers.

The Managing Director, TCN, Usman Mohammed, stated in Abuja that the Federal Ministry of Finance was looking into the request for the recapitalisation of the Discos.

He stated, “We have written our position to government on the issue of recapitalisation of the Discos and the Ministry of Finance has been asked to look into it. This is a fact. The good news is that the government at the highest level has agreed with us on the issue of recapitalization.”

[READ ALSO: NERC Approves New Electricity Tariffs for Discos]

Mohammed insisted that the Discos had to recapitalise, either by getting more investors to invest in them or by sourcing for funds from multilateral donors.

He added that the Discos had to expand their networks so that power users would benefit from the expansion work done on the country’s electricity grid by the TCN.

Related

Tags: DISCOSDistribution Companies DisCosNERCNigerian Electricity Regulatory Commission (NERC)Recapitalisation of DiscosTransmission Company of Nigeria (TCN)Usman Mohammed

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Mega Millions
Hot forex
Cornerstone
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Institutional investors shorting Bitcoin accounted for 80% of weekly inflows
    • Meyer Paints Plc: Rising cost pressure puts a damper on earnings
    • FG restructures 5 indebted DisCos, banks take over shares

    Follow us on social media:

    Recent News

    Bitcoin investors record losses of over $7 billion in recent market sell-off

    Institutional investors shorting Bitcoin accounted for 80% of weekly inflows

    July 6, 2022
    Meyer Plc announces new appointment 

    Meyer Paints Plc: Rising cost pressure puts a damper on earnings

    July 6, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com