Nigerian parliament calls for a $1.1 billion recapitalization of electricity companies amid billing disputes.

The Nigerian House of Representatives has recommended a recapitalization of at least N500 billion for electricity distribution companies (DISCOs) to improve their operations and financial stability. This move comes after claims that DISCOs are demanding additional payments for meters that consumers have already paid for, threatening economic stability and citizen welfare. The House urged the Federal Ministry of Power to declare DISCOs as non-state actors and take immediate action against their reckless practices. The Committee on Power was tasked with investigating DISCOs and ensuring transparency, with a report due in four weeks.

November 20, 2024
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