Nigeria: Govt Woos Investors With 40 Percent Stake in Discos

30 January 2018

Abuja — The federal government will use portions of its 40 per cent shares in the 11 electricity distribution companies (Discos) to raise funds for the expansion of the distribution networks, the Minister of Power, Works and Housing, Mr. Babatunde Fashola has disclosed.

Fashola stated recently in Abuja while briefing State House correspondents on the outcome of the last Federal Executive Council (FEC) meeting, that the FEC approved the ministry's memo targeted at providing a framework of investment in expanding the distribution network so they can deliver an extra 2000 megawatts (MW) of electricity.

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