Tony Elumelu, the chairman of Transcorp Group, says power theft is a setback for distribution companies (DisCos) in the country.
Speaking at the firm’s annual general meeting (AGM) in Abuja on Monday, Elumelu said DisCos also suffer losses due to vandalisation which occur in the process of electricity theft.
He said special courts should be set up to deal with power theft and related cases to curb the problem.
“Stealing of energy has continued to be a big setback and frustrating factor for the DisCos, and by extension, the power sector,” the entrepreneur said.
“Besides the loss of revenue resulting directly from stolen electricity, DisCos also suffer significant losses and damages due to vandalization of their infrastructure in the course of energy or infrastructure theft.
“While I note the provisions of the Electricity Act 2023 regarding criminal punishment for energy theft, I recommend the establishment of special courts with powers for summary proceedings to exclusively deal with cases of energy theft.
“There should also be a process of naming and shaming convicted energy thieves irrespective of their status in the society.”
