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Federal Government plans to license Renewable Energy Service Companies (RESCOs) to compete with traditional DisCosNew utility-scale renewable energy networks aim for reliable electricity access across underserved Nigerian communitiesStable electricity supply hinges on cost-reflective tariffs and improved investment in renewable energy infrastructure
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
The Federal Government has unveiled plans to license a new category of electricity providers that will compete with existing power distribution companies (DisCos), as 19 states move to establish more reliable electricity systems through renewable energy.
The initiative, spearheaded by the Rural Electrification Agency (REA), is expected to reshape Nigeria’s electricity sector over the next decade by expanding access to clean, uninterrupted power through large-scale renewable energy projects.
From DisCos to ResCos: FG plans renewable power distribution companies across Nigeria. Credit: NovatisSource: UGC
The announcement was made by the Managing Director of the REA, Abba
