The Transmission Company of Nigeria (TCN) was owed about N107 billion as at December 2016 as arrears for energy wheeled to the 11 Distribution Companies (Discos) and other electricity industry operators, Daily Trust reports.
The TCN disclosed this in its market operations fourth quarter 2016 payments and outstanding for Discos and service providers. A copy of the publication showed that the debts were racked up in 22 months (February 2015 to December 2016).
Between January and December 2016, the Discos paid to TCN N28.9 billion from the total invoices of N90.8 billion leaving an outstanding N61.9 billion. The publication showed another N45.3 billion outstanding debt that piled up in 2015, bringing the total Discos liability to the TCN to N107 billion.