Abuja Electricity Distribution Company (AEDC
Business

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

611

 

 

 

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

Domestic Crude Oil Sale Initiative: Tinubu’s Strategic Move Pays Off

President Bola Tinubu’s directive to sell crude oil and refined products in...

CBN Sets Daily POS Transaction Cap at N100,000 for Agents

The Central Bank of Nigeria (CBN) has introduced a new policy aimed...

FirstBank’s Decemberissavybe 2024 kicks off with Kenny Blaq’s “Reckless” Musicomedy

December is a joyous season in Nigeria, a time when individuals take...

Nigeria’s Inflation Rate Rises to 34.6% in November

Nigeria’s inflation rate has risen to 34.6% in November, up from 33.8%...

Illicit mint naira sale: CBN slaps N150m fine on erring banks

The Central Bank of Nigeria (CBN) has introduced a strict measure to...

FG Sets December 16 for N120 Billion Bond Sale

The Federal Government, through the Debt Management Office (DMO), has announced plans...

Naira plummets to N1,780 per dollar, reversing recent gains

The Nigerian Naira experienced a sharp value decline on Wednesday, falling from...

Naira Posts Strong Gains Against Euro Amid Forex Market Reforms, European Political Uncertainty

The Nigerian naira has made significant gains against the European currency at...

Netflix debunks exit rumour, reaffirms commitment to Nigeria

Streaming platform Netflix has dismissed rumours suggesting it plans to withdraw from...

Nigeria’s private sector records first job decline in months amid inflationary pressures

Nigeria’s private sector experienced its first decline in employment in seven months,...

Foreign Holdings in Nigeria Drop Amid Naira Crisis, Corporate Cos’ Exits

Nigeria has experienced a sharp decline in foreign direct investment (FDI) inward...

FG begins N50 electronic levy deductions on Opay, Moniepoint, Kuda transactions

The Federal Government has commenced the deduction of a N50 electronic levy...

Nigerian Exchange Records Modest 1.97% Increase in October Transactions

The Nigerian Exchange (NGX) has reported a total transaction value of N502.73...

Breaking: CBN Raises Benchmark Interest Rate to 27.50% Amid Inflation

For the umpteenth time, the Central Bank of Nigeria (CBN) has raised...

UBA to empower MSME’s with wealth management strategies at its ‘Built to Last’ series

As part of its commitment to deepen the growth and sustainability of...

FirstBank Hosts First-ever China-Africa Interbank Association Forum

FirstBank, the premier West African financial institution and financial inclusion service provider,...

UBA to raise N239.4bln via right issues – Elumelu

The Group Chairman of United Bank for Africa, Tony Elumelu, has announced...

Nigeria’s Domestic Debt Reaches N66.957trn in H1 2024

Nigeria’s domestic debt stock has surged to N66.957 trillion in the first...

China’s imports from Nigeria soar to $15.1bln, 36.1% increase

China’s imports from Nigeria have reached an all-time high of $15.1 billion...

Bitcoin Surges to New High on Trump’s Presidential Victory

The price of bitcoin has skyrocketed to a record high of $75,345,...