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Discos to recover N32b debt from military, MDAs

The Federal Government has started recovering the N32billion debt owed electricity distribution companies (DisCos) by the military, ministries, departments and agencies (MDAs), The Nation reports.

The Managing Director/Chief Executive Officer, Eko Electricity Distribution Company, Dr. Oladele Amoda, confirmed the development at the weekend.

Although he could not say exactly how much the government has been able to recover for the DisCos, he confirmed that government has started deducting the debt from the votes of the MDAs at source.

The Executive Director, Association of Nigerian Electricity Distributors (ANED), Sunday Oduntan, also said the MDAs and the military owe the 11 DisCos a total of N32 billion. He said the power firms and other industry stakeholders held a meeting which was presided over by the Vice President, Prof. Yemi Osinbajo with regard to the matter and that the Vice President offered to take up the case which has resulted in the breakthrough.

Source : energymixreport.com
Posted On: 10/26/2015 12:00:00 AM

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