FG owes DisCos 27bn, not N90bn – Fashola


September 11, 2017 | 6:15 pm
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Babatunde Fashola, the Minister of Power, Works and Housing on Monday said the ministry departments and agencies of government owed DisCos N27bn, and not N90bn as claimed.
The Minister explained that the debts of the DisCos has been verified by the federal government.
Fashola made the remarks  at the 19th monthly power sector stakeholders meeting held in Lagos.
“The Government has approved a payment assurance guarantee for all power produced to the grid and some payments have been made and others are being processed as reported earlier in Kano meeting in July 2017.
‎”The Ministry of Finance has announced a programme to issue promissory notes for inherited debts subject to parliamentary approval,” Fashola said.
‎Fashola also pointed out that the mini-grid regulations and licensing  issued by the Nigeria Electricity Regulatory Commission, NERC was already yielding fruits.
“A solar-based mini grid facility will be commissioned in Kigbe community, Kwali Local Government, FCT Abuja on Monday.
‎”It is a 20KW facility that will power 145 households and 5 businesses. The developer is Havenhill Synergy Ltd. There is also another one schedule for completion and commissioning in Kano,” he stated.
Fashola ‎further disclosed that the the initiative by NERC on mini-grid regulations would help distribute over 6 000 MW of power currently available. Out of the 6,000 only 4 000 MW could only be distributed due to problems at the distribution end.
Operators Participants at the event included Commissioners of the Nigerian Electricity Regulatory Commission (NERC), Managing Directors and CEOs of Generating Companies (GenCos), Distribution Companies (DisCos), and the Transmission Company of Nigeria (TCN), Gas Companies (GasCos).
Also at the meeting were other government agencies such as the Niger Delta Power Holding Company (NDPHC), the Nigerian Bulk Electricity Trader (NBET), Nigerian Electricity Liability Management Company (NELMCO) and Nigerian Electricity Management Services Agency (NEMSA) responsible for the regulation and development of the electricity industry.  Nigerian National Petroleum Company (NNPC) and the Central Bank of Nigeria (CBN) were also represented.
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September 11, 2017 | 6:15 pm
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