Professor Yemi Osibanjo |
Professor
Osibanjo made this assertion while responding to a call by Mr. Tony Elumelu, the Chairman Heirs
Holding Limited at the ongoing Nigerian
Economic Summit Group (NESG) that the federal government should reinvest in
the DISCOs. According to the Vice President, the federal government doesn't
have the capital to reinvest in the distribution companies and that the owners
should look for ways to attract more capital to their businesses. The federal
government has some 40 percent equities in the 11 DISCOS while the DISCO owners
have 60 percent equity.
The
23rd Nigerian Economic Summit was jointly organized by the Nigerian Economic
Summit Group (NESG) and the Federal Ministry of Budget and National Planning. Mr.
Elumelu was participating in the opening plenary of the summit with His
Excellency Professor Yemi Osibanjo, and General Electric Vice Chairman, Mr. John Rice.
The
plenary topic is: Opportunities, Productivity and Employment: Actualising the
Economic Recovery and Growth Plan.
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