DISCOS TO THROW IN THE TOWEL?

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The Discos made a selling offer to the Nigerian Government last week while reacting to the recent presses mounted on them by the Power, Works and Housing Minister, Babatunde Fashola, to other perform or quit. One of the investors even offered to sell his company’s stake at a discount. “If Fashola can give us $72 million, we are giving him $10 million discount; if we can get the sum in 24 hours, we are out of this business,” Tukur Modibbo of the Jos Electricity Distribution Company Plc said in Abuja.

The Minister, however, said the threat to quit is a welcome development; it is an opportunity the government should not fail to grab with both hands. After Fashola’s initial legalistic posturing, here comes a chance for him to rescue the all-important power sector from the situation it is into today. Fashola who never ceases to blame the Discos for the epileptic power supply in the country says this is a good sign. Having accused the Discos of wasting three years defending the incompetence of power firms, time is no longer on the side of the government.  It has to take the Discos by their offer and reclaim the companies so that they could right the wrongs in the power sector, which is the economic live-wire of the nation.

Read: Liquidity Crisis: DisCo for Sale?

 

ELECTRICITY UNION CRISIS, FG INTERVENTION REQUIRED

The Nigerian Union of Pensioners, Electricity sector has urged the Federal Government to intervene in the ongoing leadership crisis in the union to forestall a major crisis in the power sector. The union chairman, Idi Bawa, made the call during the ongoing protest by members of the Union to kick against plans to establish a parallel leadership on Thursday in Abuja. He called on the Minister of Labor and Employment, Chris Ngige, to shun the temptation of registering a parallel Union of Electricity pensioners.

The Chairman explained that the union has reasons to believe that plans were underway to register the Chief Temple Ubani-led group to operate side by side with the existing union. Bawa said that Ubani, in defiance of the disciplinary action taken against him in accordance with the constitution of the union pulled out to form “ESREWA”.  The News Agency of Nigeria reports that members of the Union were seen in their hundreds carrying placards and chanting solidarity songs at the Ministry of Labor and Employment.

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