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FG fixes Dec 31 next year for final review of DISCOs’ performance

By Chris Ochayi
ABUJA
— The Federal Government, yesterday, announced December 31, 2019, as date for final performance review of the privatised electricity Distribution Companies, DISCOs.

DISCOs

The management of Bureau of Public Enterprises, BPE, which made this known via a statement in Abuja, said the announcement became imperative because of the interest shown by various stakeholders in the electricity industry regarding the date for final review of DISCOs’ performance.

Director-General of BPE, Alex  Okoh, who personally signed the statement, noted that the five-year performance agreement for all DISCOs with the exception of Kaduna DISCO, became effective on January 1, 2015, adding that the fifth year anniversary for final performance review would, therefore, be December 31, 2019.

The statement read in part:  “Following the interest shown by various stakeholders in the electricity industry and, indeed, the general public, with regards to the date for the final review of performance of the privatised electricity distribution companies, DISCOs, Bureau of Public Enterprises, BPE, wishes to clarify as follows:

“In this regard, we wish to clarify that the five-year Performance Agreement for all the electricity distribution companies, with the exception of Kaduna DISCOs, became effective on January 1, 2015, and the fifth year anniversary for final performance review would, therefore, be December 31, 2019.

“The bureau wishes to assure the public that the relevant agencies of government are conducting a periodic review of the performance of the DISCOs under the management of the core investors, with a view to evaluating the achievement of the terms of covenants agreed with the Federal Government well ahead of the December 2019 dateline.’’

 

 


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