The House of Representatives has proposed a N500 billion capital base for electricity distribution companies, DisCos.

This move aims to strengthen consumer satisfaction and address growing complaints about service delivery. The resolution was adopted during a plenary session on Wednesday following a motion sponsored by Ibrahim Isiaka, a lawmaker from Ogun State.

Isiaka raised concerns about DisCos’ actions, citing examples of customers being coerced into paying twice for electricity meters. He described these practices as undermining consumer trust and exacerbating the financial burden on households and businesses already grappling with economic challenges. The lawmaker accused DisCos of sabotaging economic growth by weaponizing essential services meant to support citizens and stifling development. “Their actions are posing a threat to economic stability and welfare,” Isiaka stated.

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The House urged the Federal Ministry of Power to declare non-compliant DisCos as non-state actors and ensure a recapitalisation threshold of N500 billion for operators. Only financially capable DisCos would be permitted to continue operations.

Despite regulatory scrutiny, DisCos allegedly operate with impunity, ignoring consumer rights. The House Committee on Power has been tasked to investigate DisCos’ activities, ensuring accountability and protection of consumer interests.

Lawmakers are demanding immediate measures to address DisCos’ “reckless actions” that threaten the nation’s economy. Mandating financial reform to enhance service delivery and restore public trust.

This motion underscores lawmakers’ commitment to holding DisCos accountable, ensuring they deliver reliable and transparent services that meet consumer needs. If adopted, the policy could reshape Nigeria’s power sector by fostering a more competitive and financially robust landscape.

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