Abuja, Nov. 20, 2024 – The House of Representatives has directed the Electricity Distribution Companies (DISCOs) to recapitalize to the tune of N500 billion immeditely.
The House took the decision on Wednesday following the adoption of a motion on the “Need to address the activities of DISCOs in Nigeria”
The motion was moved by Hon. Ayokunle Isiaka, a member representing Ifo/Ewekoro Federal Constituency in Ogun State.
Isiaka said recent activities of DISCOs posed a significant threat to the nation’s economic stability and the welfare of Nigerians.
He alleged that the DISCOs were still demanding payment for the replacement of the meters after customers had paid for electricity meter installations.
“Nigerian consumers paid for electricity meters installation, but Discos are demanding additional payments for the replacement of these metres under dubious pretences, undermining consumer trust and exacerbating financial burdens.
“Consumers are being coerced into paying for meters which they have earlier financed, causing financial strain on households and businesses already facing economic challenges.
“Despite constant regulatory oversight and demand for accountability by the Committee on Power from these companies, Discos remained recalcitrant in operating with impunity and disregard for consumer rights,” he said.
After the adoption of the motion, the Speaker, Abbas Tajudeen, directed the DISCOs to recapitalise to least N500 billion with immediate effect.
He directed the Federal Ministry of Power to take measures to check address reckless actions of the DISCOs
The House also mandated its Committee on Power to investigate the activities of the DICOS.
