Tag: DisCos

NERC Slams N628.03m Fine On Eight DisCos + FULL LIST

Ganiyu Amodu

The Nigerian Electricity Regulatory Commission (NERC) has fined Abuja, Eko, Enugu, Ikeja, Jos, Kaduna, Kano, and Yola Electricity Distribution Companies the sum of N628.03million for non-compliance with the capping of estimated billing for unmetered customers. The commission conveyed the sanction in a release on Thursday. It explained that the action was sequel to a review of billing practices between July and September 2024, which revealed that the affected DisCos failed to adhere to monthly energy caps issued by NERC. The fines represent five per cent of the gross overbilling during…

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Nigeria Secures $500m World Bank Loan To Fund DisCos

Ganiyu Amodu

The federal government has secured a $500 million loan from the World Bank to fund electricity Distribution Companies (DisCos). According to the Bureau of Public Enterprises, in a statement in Abuja, yesterday, the loan would fill financing gaps in the distribution segment, considered as the most problematic in the industry. “This funding supports the Nigerian Distribution Sector Recovery Program (DISREP) aimed at improving the financial and technical performance of the DisCos. “The Distribution Sector Recovery Program (DISREP) is designed to enhance the financial and technical operations of the DisCos through…

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No Going Back On Overhaul Of DisCos’ Structure, Coverage – Nigerian Govt

Ganiyu Amodu

In a move towards revitalising Nigeria’s energy sector, the Federal Government has revealed its plan to overhaul the structure and coverage of the Electricity Distribution Companies (DISCOs). Secretary to the Government of the Federation (SGF), George Akume, disclosed this in a communique after a three-day Ministerial Retreat at the Presidential Villa, Abuja. In his address, Akume summarised key recommendations from the retreat, unveiled a series of strategic initiatives under the Renewed Hope Agenda, with particular focus on reforming the nation’s power distribution network. READ ALSO 2.6 Million At Risk Of…

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Nigeria Spends N1.3trn To Help GenCos, DisCos In 14 Yrs – Minister

ADEOLA YUSUF

How Nigeria paid $137 million in two years for gas and electricity that were never used in the “take or pay deal”   The Nigerian minister of finance, budget and planning, Zainab Ahmed, has said that the country has spent N1.3 trillion as intervention fund in the power sector between 2007 and 2021 without significant result. The money was approved in 2017 to tackle the monthly liquidity challenges faced by GenCos, as the distribution companies (DisCos) keep defaulting in paying for the monthly invoice of electricity received. READ ALSO: I…

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Nigerians cough up N542.73bn electricity bills to DisCos in one year

Precious Ibekwe

  Nigerians paid a whooping N542.73 billion electricity bills in the year 2020. The 11 Electricity Distribution Companies (DisCos) across the country, collectors of the revenues, on the other hand, recorded a shortfall of N273.42 billion in the year. They, findings by Platforms Africa showed, received a total of N542.73 billion out of N816. 15 billion they billed their consumers. This is an increase of N42.46 billion from the total of N230.96 billion shortfall recorded in 2019. Checks also revealed that the amount the DisCos generated from their consumers in…

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