The House of Representatives has called for the renewal of operating licenses for the five Electricity Distribution Companies (DISCOs) in Nigeria, stating that their licenses expired in October. The Chairman of the Public Account Committee, Rep. Bamidele Salam, made this announcement during an investigative hearing in Abuja on Thursday.
Salam highlighted the financial instability of certain DISCOs and their challenges in accessing intervention funds designed to enhance their operational capacity. He emphasized the obligation of DISCOs, under agreements with the Central Bank of Nigeria and the Project Management Office (PMO), to repay substantial loans within a 120-month period.
The call for license renewal comes against the backdrop of ongoing assessments of DISCOs’ operations and financial viability. The House of Representatives aims to address challenges within the electricity distribution sector, ensuring the stability and effectiveness of these essential services for the benefit of the Nigerian populace.
