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From Ndubuisi Orji, Abuja
The House of Representatives Public Accounts Committee ( PAC), yesterday, summoned 11 electricity Distribution Companies (Discos) to appear before it over N2.6 trillion debt owed to the federation account.
The PAC issued the summon after a review of the 2021 Auditor General’s report, and documents submitted to it by the Nigerian Bulk Electricity Trading Company (NBET) Plc.
The summon followed the adoption of a motion by Yahya Kusada, urging the panel to invite the 11 DISCOs to explain their persistent failure to settle their financial obligations. “With the magnitude of liabilities before us, it is imperative that these companies appear before the Committee to clarify their positions and outline plans for repayment.”
Also, the panel resolved to also summon other market operators and participants to respond to other issues raised in the audit report.
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The NBET’s document indicated that Abuja Electricity Distribution Company (AEDC), owes N330.4 billion, Eko Electricity Distribution Company, N231 billion; Benin Electricity Distribution Company, N233.2 billion; Enugu Electricity Distribution Company, N258.3 billion and Ibadan Electricity Distribution Company, N325.7 billion.
Others are Ikeja Electricity Distribution Company, N310 billion; Jos Electricity Distribution Company, N161.7 billion; Kaduna Electricity Distribution Company, N277.7 billion; Kano Electricity Distribution Company, N211.7 billion; Port Harcourt Electricity Distribution Company, N239.7 billion and Yola Electricity Distribution Company, N107.4 billion.
Similarly, the 2021 Auditor General’s report, according to the committee, also highlighted some irregularities in the power sector including N30 billion in uncollected debt by NBET from market operators, as well as N549 million shortfall in NBET’s one percent income from institutional charges.
The report also unravelled N100 billion paid by NBET to Generation Companies (GENCOs) for electricity not delivered to the national grid, N26 billion owed to Nigeria by two foreign firms for power exported to Togo, Benin, and Niger and
N166 billion under-remittance by Discos, which is said to be below the Nigerian Electricity Regulatory Commission’s (NERC) minimum threshold.
