Revoke DisCos’ Licences, PENGASSAN Urges Next Administration

The President of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Comrade Festus Osifo has expressed the displeasure of the union over disappointing performance of Electricity Distribution Companies (DisCos).

As a result, Osifo urged the incoming federal government executives to, without delay, revoke the licenses of DisCos over poor performance.

Citing the inability of the investors to bring the expected turnaround maintenance and development in the electricity sector as another reason why he is calling for cancelling the entire privatisation exercises, he added that, since the investors have been performing below expectation, government should withdraw their licenses.

Osifo, who made the call while speaking on the state of the nation further, cited the power targets set by the outgoing administration despite the availability of human and natural resources had been disappointing as reason for his call of withdrawal of the licenses.

The PENGASSAN helsman expressing concern on why the nation could not explore other alternatives to improve power supply and use such to grow the economy since economic growth is largely dependent on the availability of steady power supply, reiterated that “oil workers urged the government to complete the power and energy sector deregulation process by opening up the transmission segment of power value chains to competent private participation and investments.

“In pursuing this, the union advocated managerial experience, technical expertise and financial capabilities to be considered for willing and prospetive investors.”

Expressing the concern of the union, PENGASSAN recommended that a security summit that would look into lasting solution to insecurity should be among those national topical issues the next administration should priortise.