Reps committee summons 11 Discos over N2.6 trillion debt

The House of Representatives Committee on Public Accounts has summoned 11 electricity Distribution Companies (Discos) to appear before it over an alleged outstanding debt of N2.6 trillion owed to the federation account.

The resolution was adopted on Wednesday during an investigative hearing presided over by the committee chairman, Hon. Bamidele Salam, following a review of the 2021 report of the Auditor-General of the Federation.

The Managing Director of the Nigerian Bulk Electricity Trading Company (NBET) Plc, Johnson Akinnawo, confirmed the liabilities during the session and submitted documents showing that as of September 30, 2020, the Discos collectively owed N2.6 trillion.

Debt Breakdown

According to the breakdown provided, Abuja Electricity Distribution Company topped the list with N330.4 billion, followed by:

Ibadan Disco – N325.7 billion

Ikeja Disco – N310 billion

Kaduna Disco – N277.7 billion

Enugu Disco – N258.3 billion

Port Harcourt Disco – N239.7 billion

Benin Disco – N233.2 billion

Eko Disco – N231 billion

Kano Disco – N211.7 billion

Jos Disco – N161.7 billion

Yola Disco – N107.4 billion

The Auditor-General’s report, which triggered the investigation, also flagged multiple irregularities within the power sector.