Abuja Electricity Distribution Company (AEDC
Business

FG backtracks on Discos’ sack, plans to engage more distribution companies

973

 

 

 

The Federal Government may have backtracked on the sack of electricity distribution companies (Discos) as it plans to bring on board additional ones to improve electricity supply across the country.

 

The government also expressed satisfaction with the performance of Abuja Electricity Distribution Company (AEDC) which has metered about 65 per cent of its customers and urged other Discos to emulate it.

 

 

The Minister of State for Power, Mr  Goddy  Jedy Agba, who disclosed this when he visited AEDC corporate office on Friday in Abuja,

said the government was not thinking of dismantling the distribution companies (Discos) on the grounds of poor performance but to add to the existing ones for operational efficiency.

 

According to him, his visit to AEDC is part of the engagement process to understand the operations and challenges of the Discos as well as seek ways to improve their operations.

 

The Managing Director of AEDC, Mr Ernest Mupwaya, said the firm tabled the problem of Customs duty on imported meters in order to meet its customers’ demand and that it received a favourable response.

“One of the issues we brought to the minister’s notice is that issue of Customs Duty for meters so that we can meet our customers.

“I am glad to inform you that the government is waiting now to resolve this issue so that meters can be available,” Mupwaya said.

He said the company has the capacity of installing 3,000 meters daily but it is constrained because thousands of meters are stuck at the ports because of import duty.

“I believe the government is working actively to resolve the issue in the bid to support the firm’s operations.’’

On the debts owed by Ministries, Departments and Agencies of government, the AEDC boss said the issue has also been brought to the attention of the minister.

 

 

Attachments area

 

Attachments area

Leave a comment

Related Articles

Breaking: CBN Lifts Cash Deposit Limit, Raises Withdrawal Ceiling to N500,000

The Central Bank of Nigeria (CBN) has removed the limit on cash...

FirstBank Introduces Vybe Hub to Elevate Customer Experiences for DecemberIssaVybe

By Bolaji Israel Seth Godin, an American author, entrepreneur and one of...

CBN Retains Monetary Policy Rate at 27%

The Central Bank of Nigeria’s Monetary Policy Committee (MPC) has decided to...

Entrepreneurs Hold Nigeria’s Future, Says Tony Elumelu

Nigeria’s economic transformation will be driven by homegrown entrepreneurs, not government handouts...

Pound Sterling Hits ₦2,065.96 in Nigerian Market

The British pound sterling has reached approximately ₦2,065.96 in the Nigerian market,...

15% fuel import duty in Nigeria’s best interest – Presidency

The Presidency has clarified that the new 15 per cent import duty...

Naira Struggles in Parallel Market, Dollar Trades at ₦1,490

The Nigerian naira is facing challenges in the informal foreign exchange market,...

FirstBank’s 9th Annual CR&S Week: Empowering Communities, Promoting Sustainability and Kindness

FirstBank, the premier bank in West Africa and a leading financial inclusion...

Transcorp Plc’s Q3 2025 Profit Soars 54% to N38.81bln, 9-Month PBT Reaches N124.52bln

Transnational Corporation Plc (Transcorp Group) announced its unaudited Q3 2025 results, posting a...

FirstBank Revolutionizes Cross-Border Payments with PAPSS Integration on LIT App

FirstBank, the premier bank in West Africa and a leading financial inclusion...

Dangote Refinery to Float 5‑10% Stake on NGX Within Year, Sets 1.4m bpd Target

Aliko Dangote, founder of the Dangote Group, announced that the Dangote Petroleum Refinery...

Nigeria’s Gold Programme to Boost Foreign Reserves, Strengthen Naira – Alake

The Minister of Solid Minerals Development, Mr. Dele Alake, says the National...

UBA Set to Unveil Whitepaper on Africa’s Financial Infrastructure

Africa’s Global Bank, United Bank for Africa (UBA) is poised to further...

UBA Foundation Gives Students Opportunity to Vie for Over N22.5m NEC Prize

UBA Foundation, the corporate social responsibility arm of the United Bank for...

Waves of Innovation: How First Bank turned Lagos into Africa’s Electric Playground

By Kazeem Ugbodaga The Lagos Lagoon glistened in shades of blue and...

Nigeria’s Electronic Payment Transactions Hit N384trn in July 2025 – Says CBN Gov.

Nigeria’s journey towards a cashless economy is gaining momentum, with electronic payment...

Gold Prices Soar to Record High, Surpassing $4,000 per Ounce

Gold prices have surged past the $4,000-per-ounce mark for the first time...

CBN, SEC Collaborate on Cryptocurrency Framework – CBN Gov. Cardoso

The Central Bank of Nigeria (CBN) is working closely with the Securities...

Naira Strengthens at N1,485/$, as US Currency Weakens on Monday

The Nigerian naira has started the week on a strong note against...