Stop enriching DisCos with public funds, Senator Akintunde tells FG

Senator representing Oyo Central, Senator Yunus Abiodun Akintunde, has called on the Federal Government to stop using public funds to enrich private electricity distribution companies (DisCos).

Speaking on the floor of the Senate, Senator Akintunde who is Chairman, Senate Committee on Environment, said the present arrangement where public funds are used to purchase electricity transformers for communities, only for the assets to be taken over by DisCos, who then charge for installation and claim ownership was a misnomer.

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He said: “When you buy a transformer, you give it to communities. Distribution companies will ask you to pay for installation.

“On the day they energise that transformer, it becomes their property. It means we are using government money to enrich some individuals operating as DisCos.

“This is not just about transformers—it’s about correcting a broken system. Let’s stop using public funds to empower private monopolies. Let’s instead empower Nigerians with affordable and reliable electricity.”

The lawmaker who holds a PhD in Energy and Environmental Studies, asked the Federal Government to go the whole hog by privatising the transmission segment just as it did for generation and distribution arm.

“If you look at the infrastructure in transmission, they are old and underutilised.”

Senator Akintunde called on the Federal Government to consider grant of subsidy in the power sector which he noted was vital to stimulate economic growth and development.

He maintained that subsidy in the power sector is a global practise, not an aberration.

He said, “There is nowhere in the world where power is not being subsidised—even in the United Kingdom. We cannot abandon subsidies because of past mismanagement.

“Energy should be subsidised; it is a fundamental pillar of economic management.“