U.S., 3 DisCos sign $9m Power Africa MoU

The U.S. Agency for International Development (USAID) and three  Electricity Distribution Companies (DisCos)  have signed a $9million (N3.2 billion) annual power agreement, The Nationreports.

The agreement is  aimed at improving power distribution and increased connection across the country. U.S. Ambassador to Nigeria, James Entwistle signed on behalf of USAID while Managing Director, Benin DisCo, Mrs. Olufunke Osibodu;  Board Chairman, Eko DisCo, Mr Charles Momoh; and Amb. Shehu Malami Board Chairman, Abuja DisCo signed on behalf of their companies.

The Minister of Power, Works and Housing, Mr Babatunde Fashola, who was represented by one of his Special Advisers, Mr Lanre Akinsola at the event described the memorandum of understanding (MoU) as a major step in the right direction.