Discos need $4.3bn to improve power supply - TCN Says it has so far received $1.6bn from multi-lateral donors to execute power projects
Ukpono Ukpong, Abuja The Transmission Company of Nigeria (TCN) on Thursday said that for power supply to improve in the country, at least $4.3 billion must be reinvested into the sector to help recapitalise the Discos. TCN’s Managing Director, Usman Mohammed, during the company’s quarterly news conference in Abuja on
Thursday, noted that of the $4.3bn, the Federal Government will have to bring in its own 40 per cent stake in each of the 11 power Discos in the country amounting to $1.7bn while the Discos will have to provide the remaining balance. “To correct the wrong in power distribution, we have to recapitalise the Discos. To recapitalise the Discos, the investors have to bring new money and that means they have to bring new partners. And what we are saying is Continued on page 3
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Africa losing over $50bn to corrupt leaders – EFCC www.dailytimes.ng
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Solicits support of CSOs, trade unions for mass education against graft
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Acting Chairman of Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu (third left); Secretary to the Commission, Mr. Ola Olukoyede and others during a road walk in commemoration of the 3rd African Union Anti-Corruption Day in Abuja ... on Thursday
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