Upon review of NCP and NERC documentation, it has been determined that the States’ average shareholding in the Discos is 27.3% based on levels of State Govt investment prior to privatisation
Between 2015 18, Discos under collected on their invoices to the tune of N890 bn while also under remitting to the market which resulted in a debt of N230 bn 1
Between 2015 18, Discos underinvested relative to their Performance Agreement targets by N164
bn (67%) and benefited from investments by NDPHC/REA in their networks to the tune of N147 bn
Board composition across Discos are disproportionately skewed towards private investors while
States and LGAs have no representation.
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Ad Hoc Committee Report
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