FG Pledges Payment of N59bn Electricity Debt Owed By MDAs
The Federal Government has indicated its readiness to commence payment of all verified bills owed electricity distribution companies in the country for electricity supplied to federal ministries, departments and agencies, MDAs, based on the on-going audit of the bills submitted by the electricity firms. The government's decision is a fresh boost in liquidity in Nigeria's power sector and is coming on the heels of the N701 billion guarantee for the Nigerian Bulk Electricity Trading Plc, NBET. A report presented at the 13th Monthly Meeting of Power Sector Operators chaired by the Minister of Power, Works and Housing, Babatunde Fashola, in Ughelli, Delta State, on the on-going audit of debts owed the distribution companies, DisCos, by MDAs, stated that all such verified bills would be recommended for payment as further demonstration of government's determination to lead by example with regards to payment for electricity delivered; adding that such payments would be on fi...