Oilserv Boss Calls For Return of Underperforming DISCOS to BPE


The Chairman and Chief Executive Officer (CEO) of Oilserv Limited, Mr. Emeka Okwuosa, at an interactive session with the media in Lagos recently,  called on the Bureau of Public Enterprises (BPE) to take over the ownership of DisCos that fail to deliver after receiving the Central Bank of Nigeria’s (CBN) N213 billion power sector intervention fund, The Sun reports.

While not holistically supporting the idea of government bailing out power firms because they are private entities and should not be funded with public funds, the Oilserv CEO indicated that BPE should place a lien on the shares of Discos that are listed on the exchange should they fail to deliver, while the shares should be subsequently sold to members of the public with the firm reverting back to BPE.

He also maintained that for the country to have steady power supply, adequate investment in the transmission arm of the power sector is non negotiable because without a robust transmission network, power generated cannot be evacuated from the generating companies.

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