FG Saves N41b from Verification of DisCos Debt Claims

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The verification of the N67billion Ministries, Departments and Agencies (MDAs) debt claims, which the 11 electricity distribution companies (DisCos) submitted to the Advisory Power Team (APT) of the Office of the Vice President has saved the Federal Government N41,415,488,965, The Nation reports.

In its report dated June 2017, the team recommended that N25,994,511,035 be paid to the DisCos. Consequent upon the conclusion of the verification, the Minister of Power, Works and Housing, Babatunde Fashola at the 18th Monthly Power Stakeholder meeting in Kumboso, Kano State, said the sector is awaiting the approval of the payment to the beneficiaries.

It would be recalled that the demand for the payment of the claims had sparked fire in the sector as the DisCos under the aegis of Association of Nigerian Electricity Distributors (ANED) regularly placed newspaper adverts of how the debts had crippled their investments. Fashola however insisted on the verification of the debts before payment could be made to the companies.


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