Bureau of Public Enterprises (BPE) on Monday revealed that the Federal Government said it will increase its representation on the boards of electricity distribution companies (DisCos) by two given its 40 per cent shareholding.
In a statement issued in Abuja by BPE, the increase in representation will help strengthen the corporate governance structure of the power firms.
Concise News learnt that the decision was one of the highlights of the June 26, 2019 meeting between it and the shareholders of the DisCos.
The objective is to ensure transparency in their operations as well as improve their performance.
The BPE, according to the statement, at the meeting reiterated the purpose of the reform and privatisation in the power sector to address efficiency gaps and attract much needed private sector capital and management into the power sector. This reform was expected to transform the sector to meet the country’s electricity demand.