Debts Owed The 11 Discos Set To Be Reviewed By FG

The federal government has said that it will review the tremendous debts its ministries, departments and agencies (MDAs) owes the 11 electricity distribution companies (Discos) hoping to pay them off once they are verified, as reported by ThisDay.

In June, the Minister of Power, Works and Housing, Mr. Babatunde Raji Fashola said the Debt Management Office (DMO) had started a monetary framework to pay off the colossal debt. He said that plans are ongoing to resolve the issue before the end of the year.

Fashola uncovered this when he received the new Managing Director of Abuja Electricity Distribution Company (AEDC), Mr. Ernest Mupwaya in his office in Abuja.

As at May, the Discos through their system – the Association of Nigerian Electricity Distributors (ANED), said the MDA’s debt came to a total of about N78.7 billion, with the Nigerian Army emerging the single biggest debtor to the Discos, having used N38.75 billion worth of power over the years without paying.

Leave a Reply