14 December 2022
Banks holding majority stakes in six electricity distribution companies (DisCos) yesterday got a marching order from the Federal Government to divest within 12 months.
Minister of Power, Abubakar Aliyu, who gave the ultimatum, said the government was monitoring the operations and divestment process of the six DisCos to ensure compliance with the core objectives of restructuring the power firms.
Report says the banks have been mandated to find serious investors to sell their 60 per cent equity in the Abuja, Kano, Kaduna, Benin, Ibadan and Port Harcourt DisCos
