The Transition Company of Nigeria (TCN), on Friday said that it had recovered more than 693 containers of power equipment abandoned at ports for about 15 years due to tariff.

The Managing Director (MD) of TCN, Mr Usman Mohammed, said this in a statement in Lagos.

Mohammed said that some of the power equipment had been auctioned by the Nigeria Customs Service, but said that TCN would go after the auctioneers to recover the containers.

“TCN still has over 200 other containers auctioned by the Customs outside the ports,” he said.

According to him, the recovery was achieved last week, as it revealed that some of the containers had been stranded at various ports for about 15 years.

Mohammed said: “we were able to recover 693 containers as of last week, out of a total of 800 containers that have been in the ports.

“Some of these containers have been there for 15 years.

“Others have been auctioned and we had to trace the auctioneers to get the containers.

“The government is supporting us. And with the same way they are supporting us, I know that as government have beamed its searchlight on the distribution companies, they are going to solve the problems with power distribution,’’ he said.

Mohammed said that the government was set to solve the problems in the distribution arm of the power sector.

He disclosed that the government has approved that the TCN anchor the N72 billion the Federal Government planned to invest in the 11 electricity distribution companies in Nigeria.

Mohammed said that the Minister of Power, Works and Housing, Babatunde Fashola got the approval for the TCN to manage the N72 billion planned investment in the Discos.