… Enugu, Abuja, Benin DisCos lead The Nigerian Electricity Regulatory Commission (NERC) has given power distribution companies (DisCos) up till the end of this year to pay up the N34.05 billion loan disbursed disbursed under the Central Bank of Nigeria-Nigeria Electricity Market Stabilisation Facility programme (CBN-NEMSF). This was disclosed in the NERC’s 2016-2018 Minor Review of Multi-Year Tariff Order 2015 and Minimum Remittance Order for the Year 2019 for the Discos. It would be recalled that in November 2014, the CBN, the Ministry of Petroleum Resources, the Ministry of Power and NERC signed a Memorandum of Understanding (MoU) on the CBN-NEMSF to address the shortfalls in the revenue of the power sector. With N213 billion earmarked for disbursement through Deposit Money Banks (DMBs), billions of naira has been disbursed under the programme to the power firms, including generation companies. Following the exit of the core investor as a result of the insecurity in the North-East region of the country, the Federal Government, in July 2015, took over Yola Electricity Distribution Company after it declared a force majeure. The power sector regulator said it had confirmed N1.15 trillion as the tariff shortfall suffered by the 11 DisCos from 2015 to 2018. Breakdown of the debt shows that Enugu Electricity Distribution Company is expected to repay N5.57 billion to the CBN this year while Abuja DisCo is expected to pay N4.95 billion; Benin DisCo, N4.89 billion; Ibadan DisCo, N4.58 billion; and Port Harcourt DisCo, N3.38 billion. Similarly, Kaduna DisCo is expected to repay N3.34 billion; Jos DisCo, N2.68 billion; Kano DisCo, N1.76 billion; Ikeja DisCo, N1.75 billion; and Eko Disco, N1.03 billion.
Epileptic power supply in Ogwashi-Ukwu, headquarters of Aniocha South local government area of Delta state by the Benin Electricity Distribution Company is badly affecting economic activities in the local government area due to the fact […]
Transmission Company of Nigeria (TCN) has faulted the Nigerian Electricity Regulatory Commission (NERC) for allocating electricity consumers within the 132kv lines to the Electricity Distribution Companies (Discos). With this, TCN said NERC had violated the Electric Power […]
The Chief Legal Officer, Eko Distribution Company, Mrs Wola Joseph-Ojoye, has said that the company will commence another round of metering project to ensure customers within the network are metered. Joseph-Ojoye hinted that investors had […]
Abuja Nineteen (19) firms have indicated interest to acquire the Afam Power Company and the Yola Distribution Company (YDC) put up for sale by the federal government. At the close of the submission of bids […]
Stories by Benjamin Umuteme Abuja A new report from the Nigeria Electricity Supply Industry (NESI) has revealed that the country’s electricity sector lost N1.5 billion daily to gas, water, and transmission lines. NESI in the […]