No Disco In Nigeria Currently Bankable – PHED CEO

CEO of Port Harcourt Electricity Distribution Company (PHED), Mr Jay McCoskey granted an interview on Nigeria Info radio, along with PHED Spokesperson, Mr John Onyi, in which he declared that no distribution company (DisCo) within the country was currently bankable, Spark reports.

Mr Jay McCoskey, in the interview, explained why sometimes there is low power generation which in turn leads to low power distribution in the firm’s franchise areas. He stated that Nigeria produces only about a third of the power needed in the country due to poor gas supply arising from activities of militants as well as low water levels for the hydro plants in the north.

He emphasised that the DisCos not being able afford to meter all their customers can also be attributed to the fact that distribution companies (of which PHED is one) are all in debt and therefore, can n