Investors Interested in Power Distribution Networks – Fashola

BABATUNDE Fashola, minister of power, works and housing, has said that his ministry has received lots of proposals from investors who are interested in providing funds for the expansion of power distribution networks across the country. Nigeria’s electricity distribution networks are managed by 11 companies, who on many occasions have complained of paucity of funds to efficiently run the systems.

The minister stated that his ministry had received many proposals from investors who were willing to invest in the networks, adding that the ministry would start directing the investors to the Discos. Fashola stated this at the recent 16th power sector monthly meeting with the operators, according to the minutes of the session.

Fashola, who chaired the meeting, also directed the power distribution companies to provide areas where they would require investments on their networks which will be forwarded to the potential investors. It was also decided that the Nigerian Electricity Regulatory Commission, NERC, should develop measures to address issues of power load rejection by the Discos.

—  Jul 17, 2017 @ 01:00 GMT