The Federal Government has said it plans to sell off the five electricity Distribution Companies (DisCos) due to power outages. Minister of Power Adebayo Adelabu said banks and the Asset Management Company (AMCON), which have been managing these DisCos, having taken over because of the failure of the management to repay loans, lack the technical capacity. The sale to reputable technical power operators is expected to be completed within three months, he added. Those affected are Abuja Electricity Distribution Company (AEDC) under the management of the United Bank of Africa (UBA), Benin Electricity Distribution Company (BEDC), Kaduna Electricity Distribution Company and Kano Electricity Distribution Company managed by Fidelity Bank, Ibadan Electricity Distribution Company (IEDC) is under the AMCON management.
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