{"id":139408,"date":"2024-11-20T21:52:22","date_gmt":"2024-11-20T20:52:22","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/reps-seek-n500bn-capital-base-for-discos"},"modified":"2024-11-20T23:03:11","modified_gmt":"2024-11-20T22:03:11","slug":"reps-seek-n500bn-capital-base-for-discos","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos","title":{"rendered":"Reps seek N500bn capital base for DisCos"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>The House of Representatives has asked Electricity Distribution Companies, DisCos, to undergo a N500 billion recapitalisation exercise to strengthen their financial position to discharge their responsibility to consumers.<\/p>\n<p>The development followed the adoption of a motion on the \u201cNeed to Address the Activities of Distribution Companies in Nigeria.\u201d<\/p>\n<p>The motion was sponsored by Hon. Ayokunle Isiaka, a member representing the Ifo\/Ewekoro Federal Constituency of Ogun State, at plenary on Wednesday.<\/p>\n<p>Moving the motion, the lawmaker noted that recently the activities of DISCOs across the country have posed a significant threat to the nation\u2019s economic stability and the welfare of Nigerians.<\/p>\n<p>Isiaka expressed worry that Nigerians, after paying for electricity meter installations, DisCos still demand payment for the replacement of the meters in controversial circumstances.<\/p>\n<p>He said: \u201cNigerian consumers paid for electricity meter installation, but Discos are demanding additional payments for the replacement of these meters under dubious pretences, undermining consumer trust and exacerbating financial burdens.<\/p>\n<p>\u201cConsumers are being coerced into paying for meters that they had earlier financed, causing financial strain on households and businesses already facing economic challenges.<\/p>\n<p>\u201cDespite constant regulatory oversight and demand for accountability by the Committee on Power from these companies, Discos remained recalcitrant in operating with impunity and disregard for consumer rights.<\/p>\n<p>\u201cThe Discos\u2019 actions pose a significant threat to Nigeria\u2019s economic stability and welfare of citizens.\u201d<\/p>\n<p>In adopting the motion, the House presided over by the Speaker, Abbas Tajudeen, asked DisCos to \u201cUndergo recapitalization of not less than N500bn and only those with the required financial muzzles that can provide maximum satisfaction to consumers are allowed the space to continue to operate.\u201d<\/p>\n<p>It further asked the Federal Ministry of Power to declare DisCos as non-state actors and take immediate measures to address their reckless actions, which were threatening the nation\u2019s economy, while mandating its Committee on Power to investigate the activities of power distribution companies.<\/p>\n<p><strong>For More News And Analysis About Nigeria Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. The House of Representatives has asked Electricity Distribution Companies, DisCos, to undergo a N500 billion recapitalisation exercise to strengthen their financial position to discharge their responsibility to consumers. The development followed the adoption of a motion on the \u201cNeed to Address the Activities of Distribution Companies in Nigeria.\u201d The motion was sponsored [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":139407,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[2598,254,1589],"class_list":["post-139408","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-discos","tag-nigeria","tag-reps"],"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>Reps seek N500bn capital base for DisCos - Nigeria<\/title>\n<meta name=\"description\" content=\"The House of Representatives has asked Electricity Distribution Companies, DisCos, to undergo a N500 billion recapitalis ...\" \/>\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\/reps-seek-n500bn-capital-base-for-discos\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reps seek N500bn capital base for DisCos\" \/>\n<meta property=\"og:description\" content=\"The House of Representatives has asked Electricity Distribution Companies, DisCos, to undergo a N500 billion recapitalis ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-20T20:52:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-20T22:03:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/11\/sm_1732127551.382865.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1080\" \/>\n\t<meta property=\"og:image:height\" content=\"744\" \/>\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=\"2 minutes\" \/>\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\/reps-seek-n500bn-capital-base-for-discos#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Reps seek N500bn capital base for DisCos\",\"datePublished\":\"2024-11-20T20:52:22+00:00\",\"dateModified\":\"2024-11-20T22:03:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos\"},\"wordCount\":336,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/11\/sm_1732127551.382865.jpg\",\"keywords\":[\"DISCOs\",\"Nigeria\",\"Reps\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos\",\"name\":\"Reps seek N500bn capital base for DisCos - Nigeria\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/11\/sm_1732127551.382865.jpg\",\"datePublished\":\"2024-11-20T20:52:22+00:00\",\"dateModified\":\"2024-11-20T22:03:11+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"The House of Representatives has asked Electricity Distribution Companies, DisCos, to undergo a N500 billion recapitalis ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/11\/sm_1732127551.382865.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/11\/sm_1732127551.382865.jpg\",\"width\":1080,\"height\":744,\"caption\":\"Reps seek N500bn capital base for DisCos\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/nigeria\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Reps seek N500bn capital base for DisCos\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#website\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/\",\"name\":\"Africa Press | Nigeria | Homepage\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/nigeria\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/author\/cfeditoren\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Reps seek N500bn capital base for DisCos - Nigeria","description":"The House of Representatives has asked Electricity Distribution Companies, DisCos, to undergo a N500 billion recapitalis ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos","og_locale":"en_US","og_type":"article","og_title":"Reps seek N500bn capital base for DisCos","og_description":"The House of Representatives has asked Electricity Distribution Companies, DisCos, to undergo a N500 billion recapitalis ...","og_url":"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos","og_site_name":"Nigeria","article_published_time":"2024-11-20T20:52:22+00:00","article_modified_time":"2024-11-20T22:03:11+00:00","og_image":[{"width":1080,"height":744,"url":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/11\/sm_1732127551.382865.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Reps seek N500bn capital base for DisCos","datePublished":"2024-11-20T20:52:22+00:00","dateModified":"2024-11-20T22:03:11+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos"},"wordCount":336,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/11\/sm_1732127551.382865.jpg","keywords":["DISCOs","Nigeria","Reps"],"articleSection":["all news","Policy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos","url":"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos","name":"Reps seek N500bn capital base for DisCos - Nigeria","isPartOf":{"@id":"https:\/\/www.africa-press.net\/nigeria\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/11\/sm_1732127551.382865.jpg","datePublished":"2024-11-20T20:52:22+00:00","dateModified":"2024-11-20T22:03:11+00:00","author":{"@id":"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"The House of Representatives has asked Electricity Distribution Companies, DisCos, to undergo a N500 billion recapitalis ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos#primaryimage","url":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/11\/sm_1732127551.382865.jpg","contentUrl":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/11\/sm_1732127551.382865.jpg","width":1080,"height":744,"caption":"Reps seek N500bn capital base for DisCos"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-seek-n500bn-capital-base-for-discos#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/nigeria\/"},{"@type":"ListItem","position":2,"name":"Reps seek N500bn capital base for DisCos"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/nigeria\/#website","url":"https:\/\/www.africa-press.net\/nigeria\/","name":"Africa Press | Nigeria | Homepage","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/nigeria\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","url":"https:\/\/www.africa-press.net\/nigeria\/author\/cfeditoren"}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/posts\/139408","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/comments?post=139408"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/posts\/139408\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/media\/139407"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/media?parent=139408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/categories?post=139408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/tags?post=139408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}