• Business - Companies
  • Updated: July 12, 2022

DisCos Takeover: Group Calls For Protection Of Consumers' Rights

DisCos Takeover: Group Calls For Protection Of Consumers' Ri

The Federal Government has been urged by the Association for Public Policy Analysis (APPA), a Civil Society Organisation (CSO) to put measures in place to protect the rights of electricity consumers.

Princewill Okorie, the National President of APPA, made the assertion in an interview with the News Agency of Nigeria (NAN) in Abuja on Tuesday.

Okorie spoke against the effects the recent plan by  Fidelity Bank to take over the boards of Kano, Benin, and Kaduna Distribution Companies (DISCOs) and to collateralise their shares might have.

According to NAN, Alex Okoh, the Director-General, Bureau of Public Enterprise (BPE), and Sanusi Garba, the Executive Chairman, Nigerian Electricity Regulatory Commission (NERC),  said this in a joint statement issued in Abuja recently.

“Today, we were informed by Fidelity Bank that they have activated the call on the collateralised shares of Kano, Benin, and Kaduna (Fidelity and AFREXIM) DISCOs.

“They have also initiated action to take over the Boards of these DISCOs and exercise the rights on the shares,” the statement read in parts.

Okorie said it is important  for the  Federal Government to set up a committee to monitor consumer interest following the development.

”What had been existing all this while is that section 80 and 81 of the Electricity Power Sector Reform Act has been silent".

”We found out that implementation of sections 80 and 81 of the Electricity Power Sector Reform Act that deals with electricity consumer protection and licensee performance standards are not well enforced.

“You see a situation where consumers pay for electricity not supplied and their rights abused".

”If the bank wants to recover their money, the consumers also want to recover the money that they have been cheated for,” he said.

Okorie called on the  Consumer  Protection Council and the Federal Competition and Consumer Protection Commission (FCCPC) to ensure that electricity consumers are protected.

He also appealed to power stakeholders to ensure a adequate power supply to reduce cost of production of goods and services.

”I am appealing to all stakeholders in the power sector to do everything possible to ensure stable power supply to reduce the cost of production of goods and services," he said.


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