We paid N181bn for unused electricity Nigerians did not use - FG claims
According to Reports, The federal government has said that it paid a total of N181 billion to five generation companies (GenCos) for electricity not used by Nigerian for unused electricity.
The government made the disclosure through the managing director and chief executive officer of the Nigerian Bulk Electricity Trading Plc (NBET), Marilyn Amobi, Leadership reports.
Legit.ng gathers that she stated at the weekend in Abuja that the government paid the money based on the contract the GenCos had with it, but noted that the electricity was not used by Nigerians. Fake cylinders alert: Nigerian gas users risk bomb-like explosions - Expert warns Amobi briefed the minister of power, Engineer Sale Mamman and the minister of state for power, Jedi Agba, when the duo assumed office at the ministry.
She said: “One thing that you may hear of again is the question around undelivered capacity payment that we have made. In summary, since the transition electricity market started as at the last payment last month, NBET has bought a total of N181 billion which we paid primarily to five distribution companies based on their contracts with us, but for electricity Nigerians did not use. “Within this context and under the N701 billion (the federal government’s Payment Assurance Guarantee intervention of 2017) which was borrowed at five per cent interest, we have paid the sum of N181 billion for electricity we did not Meanwhile, Legit.ng previously reported that the Nigerian Electricity Regulatory Commission (NERC) said the planned increase in tariff was done through consultation with Electricity Distribution Companies (DisCos) and stakeholders in the sector.
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