BPE says DISCOs are technically insolvent

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The Bureau of Public Enterprises, BPE, yesterday, said most of the Distribution Companies, DISCOs, in Nigeria were technically insolvent.

Director-General of the bureau, Alex Okoh, made this revelation during an interactive session at the instance of House Committee on Power, with critical stakeholders in the Nigerian sector, including Nigeria Bulk Electricity Trading Company, NBET; Electricity Distribution Companies, DISCOs, and Generation Companies, GENCOs.

The D-G in his submission, said there was need to immediately solve the challenges bordering on structure and liquidity of DISCOs.

Source: Vanguard

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