President Rejects States’ Plan on Unilateral Takeover of Discos

• CBN, others seek solutions to distributors’ indebtedness to banks

Chineme Okafor in Abuja

President Muhammadu Buhari has foreclosed the possibility of the federal government backing a unilateral takeover of the 11 electricity distribution companies (Discos) by state governments following the poor performance of the Discos since the power assets were handed over to the private sector in 2013, THISDAY’s investigation has revealed.

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