According to a source, the Federal Government is willing to sell the Yola Electricity Distribution Company (Yola Disco) at a cheaper price compared to how much other power distribution companies were sold for during the privatisation process in 2013, IWIN reports.
But the source lamented that despite government’s resolve in this regard, it is still yet to find any investor interested in operating the utility company two years after Integrated Energy and Distribution Marketing Company (IEDM), the core investor in the company declared a force majeure due to the Boko Haram insurgency and handed it back to the government.
The source stated that the government had been experiencing a tough time finding a new buyer even at a giveaway price for which the company is being offered for sale. “The Boko Haram insurgency has affected the sale. No investors, foreign and even local, are willing to stake their funds there because of the security challenges,” he said.
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