No plans to hand over power firms to Siemens, minister declares

The Minister of Power, Sale Mamman, has said no proposal had been made by the Federal Government to handover the power distribution companies (DisCos) nationwide to Siemens.

Mamman had been quoted saying the Federal Government had submitted a proposal to the Federal Executive Council (FEC) seeking to transfer the power firms to the German company.

Romance between President Muhammadu Buhari and top German officials had last year led to an Electricity Road Map agreement between Nigeria and the Germany-based Siemens to generate 11,000MW of electricity by 2023.

The distribution segment, which has been repeatedly described as the weakest link in the power value chain, was reported to be under consideration for repossession as part of measures to rescue the sector.