FG Open to Divestment of its 40% Shares in DisCos

Electricity-distribution-sub-station1

The Minister of Power, Works and Housing, Mr. Babatunde Fashola, Monday stated that the federal government would be open to welcome new and tangible offers that would lead to it divesting its 40 percent shares in the 11 electricity distribution companies (Disco) in the country, THISDAY reports.

Speaking on Arise News — a sister broadcast arm of THISDAY — in Abuja, Fashola said the government would look forward to having private investors bring before it good proposals that would convince it to divest part of its shares in the Discos.

He said: “Certainly, the government wants to see more investments in the sector, you would have heard from the president and from the vice president that our role really is to enable the private sector lead our economy.”

“So, I would like to see an offer on the table, and you will see how I will respond to it. There is an assumption that there is an investment we are turning aback and if there is one that I am missing, please show me the direction to it,” he added.

 

Source: Energy Mix Report

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