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HomeNewsFG Threatens Power Firms: Licenses at Risk Amidst Power Crisis

FG Threatens Power Firms: Licenses at Risk Amidst Power Crisis

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In a significant development, the Federal Government issued a stern warning on Wednesday, highlighting the imminent risk of revoking licenses for power Distribution Companies (DisCos) due to persistent challenges in the country’s power supply.

The announcement came from the Minister of Power, Adebayo Adelabu, during a crucial meeting on Wednesday.

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Adelabu addressed the worsening power supply situation across various regions, stressing the need for collective efforts to find lasting solutions.

While acknowledging the Ministry’s pressure on Generating Companies to enhance performance, Adelabu noted a recent increase in generation to over 4000MW.

Despite this positive development, he expressed concern over certain DisCos failing to effectively distribute the power supplied by the Transmission Company of Nigeria (TCN).

Additionally, acts of vandalism on power infrastructure further aggravated the situation in key regions like Abuja, Benin, Port Harcourt, and Ibadan.

Emphasizing his commitment to holding all distribution companies accountable, Adelabu warned that intentional failure to meet expectations would not be tolerated and could lead to severe consequences, including license revocation.

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The Minister outlined ongoing plans to settle outstanding debts owed to power generation and gas supply companies, aiming to alleviate financial strains and contribute to improved generation levels nationwide.

Adelabu urged electricity consumers to remain patient as the government works tirelessly to address issues and enhance service delivery for all Nigerians.

As part of immediate actions, he instructed TCN to prioritize repair works on damaged transmission towers and power lines, specifically targeting affected regions.

Adelabu concluded by highlighting the challenges faced by the power sector, citing recent supervisory visits to power-generating plants where he witnessed firsthand the obstacles confronting the industry.

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