The House of Representatives in Nigeria has asked the Federal Government to increase the capital base of electricity distribution companies (DisCos) to N500 billion.
The lawmakers believe that “adequate financial resources are crucial” for DisCos to provide good services and meet customers’ expectations. After Ibrahim Isiaka from Ogun State’s motion was approved, the House passed the resolution during a session on Wednesday.
Isiaka said, “DisCos’ actions are posing a threat to economic stability and the welfare of the Nigerian people.” He pointed out that consumers have already paid for the installation of electricity meters, yet “DisCos are demanding extra payments for replacing these meters under questionable reasons,” damaging consumer trust.
He said it was unfair that “consumers are being forced to pay for meters they have already funded,” adding to the financial burden on families and businesses already facing dire economic difficulties.
Isiaka also noted that “DisCos are sabotaging economic development” by misusing essential services against the people they are supposed to serve, hindering growth and progress. He remarked that “despite constant regulatory oversight,” DisCos continue to operate with “impunity and disregard for consumer rights.”
Speaker Tajudeen Abbas called for a voice vote, and the motion was adopted without any debate. The House then urged the Ministry of Power to “declare DisCos as non-state actors” and take urgent action against their harmful practices that threaten the economy.
The lawmakers also demanded that “DisCos undergo recapitalization of at least N500 billion,” allowing only those with adequate financial strength to continue operations. They assigned the House Committee on Power to investigate DisCos to ensure accountability and protect consumer rights.
Parliamentary resolutions are not legally binding on the executive arm of government; instead, they convey the sentiments and collective will of the nation.
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