The House of Representatives has urged the federal government to forward a supplementary appropriation bill to the National Assembly to fund? Distribution?? and Generation companies (DISCOS)? of the Power Holding Company of Nigeria (PHCN).
This was subsequent to the adoption of the resolution of a motion sponsored by the chairman of House committee on Power, Hon Patrick? Ikhariale and 17 other lawmakers on the need to revise zero allocation to the two entities in the 2013 budget by the executive.
The lawmakers said government funding of the entities is necessary to enable them discharge their function of delivering electricity to Nigerians and that zero budget allocation is ‘creating a near collapse situation in the operations of the companies and that the gains expected from their expected privatisation would be lost because they are financially incapacitated.
“Unless there is review of the zero allocation so as to empower them to continue to function until such a time the preferred bidders will have functionally taken over, the nation will likely undergo a massive power failure with result effects on the economy,” the lawmakers argued.