The Federal Executive Council (FEC) yesterday approved a power sector recovery programme comprising policy actions, operational and financial interventions to improve transparency and service delivery.
This is even as the council alleged that cash deficits had accumulated owing to previous unilateral reductions of electricity tariff by the administration of former President Goodluck Jonathan for the running of elections.
Briefing State House correspondents after the FEC meeting chaired by President Muhammadu Buhari, Power, Works and Housing Minister Babatunde Fashola said the programme would also improve the performance of distribution companies, transmission companies and the entire value chain to create more viable private-driven power sector.
Fashola listed the highlights of the programme as including “how to simplify and reduce the cash deficits that have accumulated ýas a result of previous unilateral reductions of tariff by the last administration during the running of the elections.”
Others, according to him, are “how to make the DISCOS viable, accountable and responsive to customers, ensure stability of the grid and expansion of the grid and transparency and communication within the sector, and also, processes for ministries, departments and agencies’ debts and how to improve sector governance, our roles in the business, the quality of personnel on the board of the DISCOS.”
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