The Home of Representatives has mandated electrical energy distribution firms to undertake a N500bn recapitalisation to boost their monetary stability and guarantee they will effectively meet their obligations to the Nigerian public.
This decision adopted the adoption on Wednesday of a movement titled “Must Deal with the Actions of Distribution Corporations in Nigeria,” sponsored by Ayokunle Isiaka, the member representing the Ifo/Ewekoro Federal Constituency of Ogun State.
In soliciting help for the movement, Isiaka highlighted that latest actions by DisCos have posed a big menace to the nation’s financial stability and the welfare of Nigerians.
He expressed concern that regardless of Nigerians paying for electrical energy meter installations, distribution firms are nonetheless demanding extra funds for the alternative of those meters below controversial circumstances.
“The Home notes that Nigerian shoppers paid for electrical energy meter set up, however DisCos are demanding extra funds for the alternative of those meters below doubtful pretences, undermining shopper belief and exacerbating monetary burdens,” he stated.
“The Home is anxious that buyers are being coerced into paying for meters they’ve already financed, placing extra monetary pressure on households and companies already going through financial challenges.”
The All Progressives Congress lawmaker additionally expressed concern over what he termed the ‘Sabotage of Financial Growth’ by DisCos, the place important companies are used in opposition to residents, stifling progress and improvement.
He added that regardless of fixed regulatory oversight and calls for for accountability from the Committee on Energy, DisCos have remained recalcitrant, working with impunity and disregarding shopper rights.
Following the adoption of the movement, Speaker Tajudeen Abbas urged DisCos to “endure recapitalisation of a minimum of N500bn, and solely these with the required monetary capability, which might present most satisfaction to shoppers, ought to be allowed to proceed working.”
The Home additionally directed the Federal Ministry of Energy to declare DisCos as non-state actors and take fast measures to deal with their reckless actions, which threaten the nation’s financial system.
Moreover, the Home mandated its Committee on Energy to analyze the actions of DisCos with the intent to carry them accountable and safeguard shopper rights.
The committee was additionally tasked with finishing up consciousness campaigns on shoppers’ rights and analyzing the implementation of strict rules governing DisCos to make sure transparency and equity in dealings with shoppers.
