FG Set to Reconcile MDAs’ Debts to 11 DisCos

fashola (3)

The federal government has said that it will review the huge debts owed the 11 electricity distribution companies (Discos) by its ministries, departments and agencies (MDAs) with a view to paying them off once their statuses are ascertained.

The Minister of Power, Works and Housing, Mr. Babatunde Raji Fashola disclosed this when he hosted the new Managing Director of Abuja Electricity Distribution Company (AEDC), Mr. Ernest Mupwaya in his office in Abuja.

 In June, Fashola said the Debt Management Office (DMO) had initiated a financial plan to pay off the huge debt. He had said that with the DMO’s plan which was in response to a letter he wrote to it requesting for alternative means of settling the debt, it will be paid off before the year runs out.

As at May, the Discos through their network – the Association of Nigerian Electricity Distributors (ANED), put the MDAs debt at about N78.7 billion, with the Nigerian Army as the single largest debtor to the Discos, having consumed without paying N38.75 billion worth of electricity overtime.

Source : Energy Mix

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