The Nigerian Senate has expressed deep concerns over what it described as the indirect enrichment of private electricity Distribution Companies (DISCOs) through the use of public funds, calling on the Federal Government to urgently review its approach to power sector interventions.
Speaking on the floor of the red chamber during Thursday’s plenary, Chairman of the Senate Committee on Environment, Senator Yunus Akintunde (APC – Oyo Central), criticised the ongoing practice of purchasing electricity transformers with government funds, only for the assets to be handed over to private distribution companies.
Senator Akintunde condemned the situation where government-funded transformers are installed in communities, but ownership automatically transfers to DISCOs upon energisation.