The House of Representatives has proposed that only electricity Distribution Companies (DisCos) with a capital base of at least ₦500 billion be permitted to operate in Nigeria.
This resolution, aimed at ensuring maximum consumer satisfaction and financial accountability within the power sector, was passed during the House plenary session on Wednesday.
The motion was sponsored by Hon. Ibrahim Isiaka, representing Ogun State.
Isiaka highlighted persistent issues in the operations of DisCos, describing their actions as a threat to the nation’s economic stability and the welfare of citizens.
He noted that consumers, who initially paid for electricity meter installations, are now being subjected to additional charges for replacements under questionable circumstances.
He further accused some DisCos of sabotaging economic development by failing to provide reliable services, thereby hindering growth.
Isiaka also criticized DisCos for disregarding consumer rights despite ongoing regulatory oversight and calls for accountability from the House Committee on Power.
Following a unanimous voice vote, the House urged the Ministry of Power to classify DisCos as non-state actors and take decisive steps to address their actions, which were described as reckless and detrimental to the economy.
Additionally, the lawmakers called for the recapitalization of DisCos to a minimum of ₦500 billion, ensuring only financially capable companies operate in the sector. The House Committee on Power was mandated to investigate DisCos’ activities to hold them accountable and protect consumer rights.
This resolution underscores the House’s commitment to reforming Nigeria’s power sector and safeguarding the interests of electricity consumers.
