TCN seeks DisCo’s liquidation

The Managing Director, Transmission Company of Nigeria (TCN), Usman Gur  Mohammed on Thursday, said he has made recommendation that one of the 11 distribution companies (DisCos) be liquidated.

He told the new Minister of Power, Engr. Mamman Sale and the Minister of State, Goddy Jedy Agba, who were taking their inaugural briefings from the Ministries, Department and Agencies (MDAs) heads in Abuja that the recommendation was due to lack of performance of the DisCo.

Mohammed who did not mention the name of the power firm, insisted that the TCN has the power under its Act to make such recommendation.

He said: “Honourable Ministers, as we speak with you, we have actually recommended the liquidation of one DisCo for lack of performance.”

Responding,  Agba said he was aware of the need for an effective and efficient power sector in Nigeria that has remained an unending pain to the citizenry.

He said: “There is no reason why we cannot change this despicable and miserable narrative. This is what Nigerians expect from us as we begin this new journey. We must therefore brace to face this challenge.”

Meanwhile, the Managing Director, Nigeria Bulk Electricity Trading (NBET) Company, Dr. Marilyn Amobi, said  in the last payment, last month, the company has borne a payment of N181billion to five generation companies (GenCos) for electricity that Nigerians did not use.

According to her, in the context of the N701billion power sector intervention fund, the Federal Government paid N105billion as five per cent to GenCos for unused electricity. The payments, she said, were due to the power purchase agreements that government had with the companies.

Reacting to the comment, the Permanent Secretary, Louis Edozien, told the minister that Nigerians were agitated about the quality of service in the industry.

“We created an industry that places a huge continent liability on the government. We have to apply our intellect to this problem to solve it. The Minister of State, I know this is an area you are familiar with. Both of you have to lead us out of this quagmire,” he said.