November 22, 2019

What NEC discussed regarding DisCos ― Presidency

President Muhammadu Buhari president NEC meeting

Nigeria’s presidency has reacted to reports on the ownership of the electricity Distribution Companies (DisCos).

Presidency cleared the air regarding the DisCos ownership via a press statement made available to Vanguard by the Senior Special Assistant to the President on Media and Publicity (Office of the Vice President), Laolu Akande.

The statement reads:

“We have read some misleading media reports regarding the deliberations of the National Economic Council on the issue of the ownership of electricity Distribution Companies, DisCos, at its meeting yesterday.

“Some of the erroneous reports was a headline that said: “FG May Take Over DisCos.”

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“For the purposes of clarity and accurate records, the ONLY issue which came up for discussions at NEC yesterday was about the quantum of State governments’ interests, if any, in the 40% shares retained by the Nigerian Government in each of the DisCos at the point of privatization.

“A Committee was then constituted to review historical records and advise the Council accordingly.”

Vanguard News Nigeria.