Debts are piling up in the Nigerian Electricity Supply Industry as only four of the country’s 11 distribution companies, Discos, paid for supplies of power they received for transmission to their customers from the generation companies, GENCOs in January 2018.
Information available to this website indicated that the highest percentage of revenue paid by the distribution companies for electricity received from the generation companies is 29%.
Enugu DisCo paid 29.24 percent of its invoice, Port Harcourt DisCo 15.06 percent, Abuja DisCo 18.60 percent, and Jos DisCo 9.09 percent. Ikeja and Eko Disco joined Benin, Ibadan, Kaduna, Kano and Yola DisCo in failing to make any remittances for the megawatts of electricity sent to them.
December was no better; five Discos made no payment for over n16.2 billion worth of electricity sent to them. According to the Nigerian Bulk Electricity Trading Company (NBET), two others paid after the due date, while four others made varying payments.
Market performance has crashed to 8% and this may affect the government’s drive to create a strong domestic marketplace. Sahara Reporters
