- FG, DisCos reconcile electricity bills
- FG to set up a structure for repayment of arrears
The Federal Government has engaged the services of an audit firm to reconcile electricity bills from the Distribution Companies (DisCos). This comes as the FG’s indebtedness to the DisCos, which is estimated to be over ₦100 billion, is worsening the liquidity crisis in the sector, with DisCos debt approaching ₦500 billion.
Despite the huge arrears of the FG, the Special Adviser to the President on Infrastructure, Ahmad Zakari, has disclosed, the FG and the DisCos have each engaged audit firms to reconcile the outstanding bills. ”Both the DisCos and government are reconciling the figures using reputable audit firms. It would be prejudicial to communicate numbers pre-verification. We don’t want to mislead the public,” Zakari said
Zakari further stated that the FG would develop a structure to repay outstanding electricity bills by the FG. Last week, during inspection visits to some DisCos, the Senate Committee on Privatisation, the DisCos had lamented the growing debt profile of the FG.