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The Presidency on Tuesday explained Nigeria entered electricity power export agreements with some of her neighbouring countries so that they would not build dams on the path of River Niger.
The statement also added the actual cost of electricity generated within 2018-2019 by all the electricity generation companies in Nigeria was about N1.2 trillion . Describing the report as hyperbolic and terribly misleading, the Presidency said that apart from the fact the figure quoted was far from accurate, out-dated and not reflective of the current reality, the overall cost of power generated and sold by Nigeria in the period covered by report was not anywhere close to what was mentioned by the paper.
“As of the last review in 2019, the amount of indebtedness to all three customers stood at $69 million, subsequent upon which several payments were made to NBET. Much of this has been repaid by the debtor nations.
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