House of Representatives Summons 11 DisCos Over ₦2.6 Trillion Debt
The House of Representatives Public Accounts Committee has summoned eleven electricity distribution companies (DisCos) over an outstanding ₦2.6 trillion debt owed to the federation account. Chairman of the Committee, Bamidele Salam, announced the resolution during an investigative hearing on the 2021 Auditor General’s report. The Managing Director of the Nigerian Bulk Electricity Trading Company (NBET) PLC, Johnson Akinnawo, confirmed the liabilities, supported by documents showing that as of September 30, 2020, the DisCos collectively owed ₦2.6 trillion.
The breakdown includes ₦330.4 billion owed by Abuja Electricity Distribution Company, ₦310 billion by Ikeja Disco, ₦325.7 billion by Ibadan Disco, ₦277.7 billion by Kaduna Disco, and varying sums by others. The Auditor General’s report also highlighted irregularities in the power sector, including ₦30 billion in uncollected debt by NBET from market operators, a ₦100 billion payment for power not delivered to the grid, and ₦26 billion owed to Nigeria for electricity exported to Togo, Benin, and Niger. Following deliberations, Hon. Yahaya Kusada moved a motion, seconded by Hon. Billy Osawaru, mandating the appearance of the DisCos to explain the persistent non-settlement of their obligations and present repayment plans. The Committee also resolved to summon other market operators mentioned in the report, with dates for their appearances to be communicated soon.
