NEC raises panel to review DisCos’ ownership

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THE National Economic Council (NEC) on Thursday raised an adhoc committee to review the ownership structure of Power Distribution Companies (DisCos).

Imo State Governor Emeka Ihedioha, who dropped the hint in a chat with State House reporters after yesterday’s NEC meeting, said the panel has a mandate to review the companies’ ownership status.

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Vice President Yemi Osinbajo presided over the meeting at the Presidential Villa, Abuja.

Ihedioha stated that “NEC resolved to constitute an ad hoc committee, including Kaduna Governor Nasiru El-Rufai, as well as governors representing the six geo-political zones, to do the review.

El-Rufai once served as Director-General of the Bureau of Public Enterprises (BPE) and the six governors are on the Board of the Niger Delta Power Holding Company (NDPHC).

The Imo governor said that representatives of the National Council of Privitisation (NCP) and the BPE would serve on the committee.

On what gave rise to the discussion on the NDPHC, the governor said an issue came up in terms of ownership between the Federal Government and state governments.

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He said: “It was important for us to deal with all concerns and establish factually what the true situation is.

“Whether it is a joint, or partnership ownership structure between the federal and state governments, or whether the Federal Government has divested its shares.’’

Ihedioha said that the Accountant-General of the Federation, on behalf of the Minister of Finance, Budget and National Planning, also briefed the council on the balances of national accounts.

He said that Excess Crude Account balance as at Wednesday, stood at $324.539 million; Stabilisation Account (N29.48 billion); while Natural Resources Development Fund Account stood at N79.7 billion

Ihedioha said that the vice president, who is the Chairman of Council, briefed the meeting on the Single Window Steering Committee and the Apapa Traffic Task Team.

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He said Jigawa State Governor Abubakar Badaru would join the team.

The Imo governor, however, said that nothing was discussed on budget support refund which came up at the council’s meeting last month.

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