Business

Discos blame poor performance on lack of forex

discos

Electricity Distribution Companies (Discos) in the country have attributed their poor performances, and inability to meet their obligations to their failure to access foreign exchange.

Executive Director of the Association of Nigerian Electricity Distribution Companies, Mr Sunday Oduntan, therefore called on government to allow them easy access to foreign exchange to boost service delivery.

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Their inability to perform at the optimum he stated has led to revenue shortfalls of about 300 billion Naira.
Oduntan also said that the deficit threatens to completely undermine the electricity value chain and its ability to continue to serve the customers.

He added that the metering gap has dropped to 2.8 million customers, with about 3.3 million customers now metered across the country.

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