Abuja — The Bureau of Public Enterprises (BPE) on Monday said the government was scarred of allowing new monopolies to emerge in Nigeria's power sector and expected core investors who own 60 per cent equity in the country's electricity distribution companies (Discos) to divest parts of their shareholdings to new investors to raise capital for their upgrade.
The privatisation agency explained that the government was also not comfortable with the idea of selling parts of its 40 per cent equity in the Discos as frequently requested by their core investors, stating clearly that it would rather hold on to its shares and force the Discos to shed off theirs instead if they wanted to raise equity financing as against debt to upgrade their operations.
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