Federal Government has threatened to revoke the operating licences of the electricity companies involved in the Generation (Gencos) and Distribution (Discos) if they continue in the trajectory of under performance.
This was disclosed today in Abuja by the Minister of Power Engr. Sale Mamman while addressing State House.
According to him the Ministry of Power presented to FEC a Memorandum on the ways towards solving the power problems of Nigeria.
Hassan however accused the Discos and Gencos of not meeting their financial obligations as they in the habit of not paying for the electricity they are supplied.
”We (ministry) have made presentation to FEC about the continued participation in the power sector. They are in habit of collecting about 3, 000 Mega Watts of power but pay for only 1, 000 MW at the end of the day thereby creating a lot of financial backlash and huge subsidy”.
Mamman revealed that Federal Government may have to decide the faith of the Discos and Gencos, pointing out that they may have to be dropped if they are not capable of giving Nigerians light.
He hinted that other companies that can do better than what is currently on ground will be brought on board.
The Minister added that government cannot continue to bear the brunt of Discos and Genecos inefficiency.
Mamman said that Nigeria has signed a Memorandum of Understanding (MoU) with a reputable German company, Siemens to partner with Nigeria to solve the electricity problems without further delay.
The Minister said that Siemens will take over the generation of power to ensure that there is sufficient power to resolve the electricity problems of the country.