11 energy distribution companies (Discos) have been called before the House of Representatives Public Accounts Committee due to an unpaid debt of N2.6 trillion payable to the federation account.
The resolution came after the 2021 Auditor-General’s report was reviewed and an investigative hearing was held on Wednesday, presided over by Representative Bamidele Salam.
Mr. Johnson Akinnawo, the Managing Director of the Nigerian Bulk Electricity Trading Company (NBET) Plc, testified before the Committee regarding the extent of the debt.According to documents provided by NBET, the Discos owing N2.6 trillion in total as of September 30, 2020.
With roughly N330.4 billion, Abuja Disco is at the top of the list, followed by Ibadan Disco (N325.7 billion), Ikeja Disco (N310 billion), and Kaduna Disco (N277.7 billion), according to the breakdown.
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