ANED: FG Owed Discos N1․728trn in Tariff Shortfall as at December
•Minister denies plan to handover power distribution to SiemensThe federal government’s indebtedness to the power distribution companies in terms of tariff shortfall was a total of N1.728 trillion as at December 31, 2019, the Association of Nigerian Electricity Distributors has revealed in its presentation to the National Economic Council, NEC, subcommittee earlier this February.
In the same vein, while the MDAs were owing the Ibadan Distribution Company, that covers Kwara, Oyo, Osun, and Ogun, a total of N8.795 billion; Ikeja Disco – N7.965 billion; Jos Disco – N10.924 billion; Kaduna Disco – N21.849 billion; Kano Disco – N5.645 billion, and Port Harcourt Disco, a total of N11.101 billion.
“This treatment does not follow any known accounting or financial principal. If it is a loan by the government to the company, then it should be treated as an investor loan, for which there is an established methodology under the tariff They stated that the, “TCN has assumed the role of operator, regulator and market participant,” and so, “accountability, transparency does not exist.”
ANED stressed the need to revisit the Multi-Year Tariff Order methodology, as well revisit the regulatory framework for the sector, so as to ensure consistency, transparency and participatory. Furthermore, ANED, in the presentation, pointed out that one of the challenges in the Nigerian Electricity Supply Industry was lack of proper coordination of the public sector agencies involved in the power sector
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