…Discos need $4.3bn investment to thrive, says TCN
The Speaker of the House of Representatives, Femi Gbajabiamila, has said the lower chamber of the National Assembly would ensure that Nigerians get adequate supply for the electricity they pay for.
Gbajabiamila said the House would give adequate attention to the practice of estimated billing by electricity distribution companies to address the challenges Nigerians face.
He said the House would not tolerate a situation where electricity distribution companies (Discos) take advantage of Nigerians by issuing outrageous bills to them, stressing that the lawmakers had resolved to revisit a proposed law against it.
Speaking when he received the management team of the Transmission Company of Nigeria at his office in Abuja on Wednesday, the Speaker stated that it was the responsibility of the House to make life easy for the citizens.
He said, “The issue of estimated billing has been on the front burner. It has been in this House and we will revisit it soon. We can’t allow Discos to continue to do what they have been doing over the years. You said Discos need to be recapitalised. I don’t know what you mean by that. These are private companies, do you mean that the government should come in? Maybe you should explain more on that.”
While commending the current management of the TCN led by its Managing Director, Usman Mohammed, the Speaker tasked them with working closely with the leadership of the House and the relevant committees to achieve its goals.
“We’re going to be engaging you on the correlation between electricity supply and how to improve poverty. You have done well, I must commend you so far. But what we would like to know is for you to give us a breakdown of your real challenges, your real problems,” Gbajabiamila said.
The Speaker called for a periodic review of the performance of Discos, saying the House will do everything within its powers to ensure that TCN delivers on its mandate to Nigerians.
Earlier in a presentation, Mohammed said TCN had been repositioned since the current management under him took over.
He said some of the challenges had to do with Discos, noting that there has been no investment in them and they need $4.3bn investment at the moment.