The Senate has advised the federal\ngovernment to sell its 40 per cent stake in electricity distribution companies\n(Discos) to foreign investors.<\/p>\n\n\n\n
Ahmed Lawan, Senate President, while\nreceiving the management team of the Transmission Company of Nigeria (TCN), in\na statement said experts in the field should be allowed to invest in the\nsector.<\/p>\n\n\n\n
The statement reads: \u201cThe 40 per cent holding of the federal government as stipulated in the Power Privatisation Act 2005 may also be more beneficial to the nation if it is sold to foreign investors with technical know-how,\u201d <\/p>\n\n\n\n
Lawan, according to THISDAY noted\nthat it is not in the interest of the government to keep disbursing bailout\nfunds to Discos without a commensurate improvement in the power supply,\nassuring the TCN of the senate\u2019s support for its proposed recapitalisation of\nDisco and the transmission rehabilitation and expansion programme (TREP).<\/p>\n\n\n\n
He said the programmes should be\ncarried out with the intention of resolving power supply challenges once and\nfor all.<\/p>\n\n\n\n
The Senate President also expressed\ndispleasure with the report on supervisory control and data acquisition (SCADA)\ncontracts awarded three times in the past without success, calling for a more\nstringent process of awarding contracts that would allow only competent firms\nqualified to execute the project.<\/p>\n","protected":false},"excerpt":{"rendered":"
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