{"id":119603,"date":"2024-05-25T10:04:26","date_gmt":"2024-05-25T09:04:26","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/banks-amcon-must-resale-discos-to-utility-operators-power-minister"},"modified":"2024-05-25T12:14:24","modified_gmt":"2024-05-25T11:14:24","slug":"banks-amcon-must-resale-discos-to-utility-operators-power-minister","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/banks-amcon-must-resale-discos-to-utility-operators-power-minister","title":{"rendered":"Banks, AMCON must resale Discos to utility operators \u2013 Power Minister"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>The Minister of Power, Adebayo Adelabu, has said that banks and the Asset Management Corporation of Nigeria, AMCON, are not permitted to operate distribution companies.<\/p>\n<p>Recall that AMCON and commercial banks in the country had taken over some power distribution companies who are their debtors.<\/p>\n<p>The minister, speaking at the Ministerial Sectoral Updates on Friday, said non-power operators are not permitted to operate distribution companies.<\/p>\n<p>\u201cIt should not be permitted for non-power operators to operate distribution companies. If the banks and AMCON are taking over their debtors it should only be temporary,\u201d he said.<\/p>\n<p>\u201cThey\u2019re expected to have made the move for a resale to a pure utility operative company. This has dragged on for so long and we\u2019ve given them a deadline within which this must be transferred to true technical operators in the power sector.<\/p>\n<p>\u201cWe\u2019re going to monitor this and track it to ensure that these discos have been sold to pure technical operators,\u201d he added.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/nigeria\">Nigeria<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. The Minister of Power, Adebayo Adelabu, has said that banks and the Asset Management Corporation of Nigeria, AMCON, are not permitted to operate distribution companies. Recall that AMCON and commercial banks in the country had taken over some power distribution companies who are their debtors. The minister, speaking at the Ministerial Sectoral [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":119602,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[13628,1570,2140,848,2782,2598,254,12183],"class_list":["post-119603","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-adebayo-adelabusx","tag-africa-press","tag-africa-press-nigeria-2","tag-amcon","tag-banks","tag-discos","tag-nigeria","tag-power-minister"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Banks, AMCON must resale Discos to utility operators \u2013 Power Minister - Nigeria<\/title>\n<meta name=\"description\" content=\"The Minister of Power, Adebayo Adelabu, has said that banks and the Asset Management Corporation of Nigeria, AMCON, are ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/banks-amcon-must-resale-discos-to-utility-operators-power-minister\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banks, AMCON must resale Discos to utility operators \u2013 Power Minister\" \/>\n<meta property=\"og:description\" content=\"The Minister of Power, Adebayo Adelabu, has said that banks and the Asset Management Corporation of Nigeria, AMCON, are ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/banks-amcon-must-resale-discos-to-utility-operators-power-minister\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-25T09:04:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-25T11:14:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/05\/sm_1716619200.230904.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"879\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/banks-amcon-must-resale-discos-to-utility-operators-power-minister#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/banks-amcon-must-resale-discos-to-utility-operators-power-minister\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Banks, AMCON must resale Discos to utility operators \u2013 Power Minister\",\"datePublished\":\"2024-05-25T09:04:26+00:00\",\"dateModified\":\"2024-05-25T11:14:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/banks-amcon-must-resale-discos-to-utility-operators-power-minister\"},\"wordCount\":184,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/banks-amcon-must-resale-discos-to-utility-operators-power-minister#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/05\/sm_1716619200.230904.jpg\",\"keywords\":[\"Adebayo Adelabusx\",\"Africa Press\",\"Africa Press-Nigeria\",\"AMCON\",\"banks\",\"DISCOs\",\"Nigeria\",\"Power Minister\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/banks-amcon-must-resale-discos-to-utility-operators-power-minister#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/banks-amcon-must-resale-discos-to-utility-operators-power-minister\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/banks-amcon-must-resale-discos-to-utility-operators-power-minister\",\"name\":\"Banks, AMCON must resale Discos to utility operators \u2013 Power Minister - 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