• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, October 27, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Federal Gov’t Orders Sale Of DisCos Managed By Banks, AMCON To Experts

by Nse Anthony - Uko
2 years ago
in News
DisCos
Share on WhatsAppShare on FacebookShare on XTelegram

The federal government has ordered the resale of electricity Distribution Companies (DisCos) under the management of banks and the Asset Management Corporation of Nigeria (AMCON) within three months, to reputable technical power operators.

Advertisement

LEADERSHIP checks revealed that five DisCos are currently under the management of AMCON and bank lenders. These are Abuja Electricity Distribution Company (AEDC), which is currently under the management of the United Bank of Africa (UBA), while Fidelity Bank and Afreximbank had in 2022 taken over the management of Benin Electricity Distribution Company (BEDC), Kaduna Electricity Distribution Company (KEDCO), and Kano Electricity Distribution Company while Ibadan Electricity Distribution Company (IBEDC) is under the AMCON management.

The DisCos were taken over following their inability to pay off loans taken by the core investors to buy 60 per cent ownership of the power assets during the privatisation exercise in 2013.

Advertisement

The Minister of Power, Chief Adebayo Adelabu, revealed the latest development on Monday to members of the Senate Committee on Power, during an oversight visit to the ministry in Abuja, that the energy distribution assets are technical and as such, they should be under the management of technical experts.

“We have put pressure on NERC to make sure that they raise the bar of regulatory activities on electricity distribution companies (DisCos). If they have to withdraw licences for non-performance, why not? If they have to change the board and management, why not?”

“All the DisCos that are still under AMCON and bank lenders, within the next three months they must be sold to technical power operators with good reputation in utility management. We can no longer afford AMCON or the banks to run our Discos. This is a technical industry and must be run by technical experts,” Adelabu stated.

RELATED NEWS

Spaces For Change Lauds Nigeria’s Grey List Removal

Naira Gains 9.16% in 6 Months On Reforms, Illicit Flow Watchlist Exit

FirstBank Launches 2025 Corporate Responsibility, Sustainability Week

Sterling Holdco: A Display Of Strategic Calm In Nigeria’s Banking Sector

Join Our WhatsApp Channel

Breaking News: Nigerians at home and abroad can now earn in USD by acquiring ultra-premium domains from $3,000 and profiting up to $36,000. Perfect for professionals. Click here.

SendShareTweetShare

OTHER NEWS UPDATES

Nigeria
Business

Spaces For Change Lauds Nigeria’s Grey List Removal

1 minute ago
Naira Surges Against Dollar, Hits 5-month High
Business

Naira Gains 9.16% in 6 Months On Reforms, Illicit Flow Watchlist Exit

3 minutes ago
FirstBank To Bridge Financial Gaps, Leverage Digital Solutions — MD
Business

FirstBank Launches 2025 Corporate Responsibility, Sustainability Week

4 minutes ago
Advertisement
Leadership join WhatsApp

LATEST UPDATE

Spaces For Change Lauds Nigeria’s Grey List Removal

1 minute ago

Naira Gains 9.16% in 6 Months On Reforms, Illicit Flow Watchlist Exit

3 minutes ago

FirstBank Launches 2025 Corporate Responsibility, Sustainability Week

4 minutes ago

Sterling Holdco: A Display Of Strategic Calm In Nigeria’s Banking Sector

5 minutes ago

Downstream Sets Agenda For Industry Innovation At 2025 OTL Africa

6 minutes ago
Load More

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.