PUNCH
Power distribution companies failed to remit a total of N208.8bn to the Nigeria Electricity Supply Industry in 2022, the Federal Government has said.
Figures obtained on Sunday from the latest Fourth Quarter 2022 Report of the Nigerian Electricity Regulatory Commission, a Federal Government agency, as well as those from the First, Second and Third quarters showed that the Discos never made complete remittances all through the period.
There are about 11 power distribution companies in Nigeria responsible for distributing electricity to consumers in their respective franchise areas of operation. They include Abuja, Benin, Eko, Enugu, Ibadan, Ikeja, Jos, Kaduna, Kano, Port Harcourt, and Yola Discos.
The Discos were created in 2013 as part of Nigeria’s power sector reforms aimed at improving the efficiency and reliability of electricity supply across the country.
The firms collect electricity bills from consumers on behalf of power market. They make remittances to the power market through the Nigerian Bulk Electricity Trading Plc and the Market Operator, an arm of the Federal Government-owned Transmission Company of Nigeria.
But figures obtained from the power sector regulator showed that the Discos did not remit N49.23bn, N31.3bn, N58.3bn and N69.94bn in the fourth, third, second and first quarters of 2022, respectively, making a total of N208.8bn.
