Electricity distribution companies (Discos) on Sunday ruled out the possibility of a buy off from the federal government and said that they were committed to resolving challenges in the power sector in the country.
Speaking under the aegis of the Association of Nigerian Electricity Distributors, the Discos stated that they were committed to solving the challenges affecting retail electricity distribution across the country.
Sunday Oduntan, the executive director, research and advocacy, ANED, said that the government would not repossess the distribution firms.
He was quoted in a statement issued in Abuja on Sunday as saying that the Discos were working with the Federal Government to address the challenges of retail electricity distribution.
He ruled out the possibility of government paying N736bn to owners of the Discos since the government had yet to pay investors in Yola Disco, months after reaching an agreement with them in order to take back the power firm.
