Senator Yunus Akintunde Warns FG Against Enriching DisCos With Public Money

Senator Yunus Abiodun Akintunde of Oyo Central has urged the Federal Government to stop spending public funds on projects that end up boosting the profits of privately owned electricity distribution companies (DisCos).

He raised the concern during a session on the floor of the Senate.

Akintunde, who chairs the Senate Committee on Environment, pointed out a pattern where government-funded transformers are handed over to communities but eventually taken over by DisCos. These companies, he said, charge installation fees and claim ownership of the equipment once energized.

He described this system as deeply flawed, arguing that public money should not be used to build assets for private monopolies. According to him, this approach not only wastes scarce resources but also leaves communities stuck with unreliable and expensive electricity supply.

Akintunde, who holds a doctorate in Energy and Environmental Studies, also questioned why the transmission arm of Nigeria’s electricity sector remains under government control when generation and distribution have already been privatised. He called for a complete overhaul of the sector, stressing that outdated and underutilised transmission infrastructure continues to drag down power delivery nationwide.

He also made a case for the return of subsidies in the electricity sector. Contrary to popular belief that subsidies are wasteful, he argued they are essential tools for economic growth. He noted that countries like the United Kingdom still provide energy subsidies, insisting that Nigeria should not abandon them simply because of past abuse or mismanagement.

Akintunde’s remarks reflect growing frustration in the Senate over the state of electricity in the country, where citizens continue to pay high tariffs without reliable supply. His comments add to mounting pressure on the government to rethink its energy policy and ensure that public funds directly benefit Nigerians rather than private interests.