BPE to determine listing of DisCos’ shares on NSE – Association

The Association of Nigerian Electricity Distributors (ANED) says listing shares of Electricity Distribution Companies (DisCos) on the Nigerian Stock Exchange (NES) will be determined by the Bureau of Pubic Enterprises (BPE).

The Chief Executive Officer of ANED, Mr Azu Obiaya, said this in an interview with the News Agency of Nigeria (NAN) in Abuja on Thursday.

He said that the listing of the DisCos shares at the stock market could only be possible at the expiration of the fiveyear agreement entered with the BPE.

“From our perspective at the moment, the transactional agreement that the DisCos have with the Bureau of Public Enterprises, (BPE) essentially describes a five -year approach to the listing of shares in the stock market.

“For us that is what we believe to be the guiding framework in terms of the listing of our share and unless that changes, we really cannot speak on the plan that the government currently has.

“From our own perspectives, what is guiding us, in terms of listing of the DisCos shares is the share sale agreement that the DisCos have with the BPE.

“So unless we are informed that it has changed, that continues to be the guiding frame work for us.’’

The Minster of Power, Works and Housing, Mr Babatunde Fashola in February presented a Memo to the Federal Executive Council as measure to mitigate the challenges of liquidity in the power sector.

The Memo tagged “Power Sector Recovery Plan“outlined various proposal on reviving the sector.

On Ministries, Departments and Agencies (MDA) debt, owed DisCos, he said government was yet to settle all outstanding debt adding that only Abuja Electricity Distribution Company (AEDC) had received part payment. (NAN)