The House of Representatives has summoned 11 Discos over a massive N2.6 trillion debt.
Lawmakers demanded accountability after an Auditor-General report exposed staggering liabilities and irregularities.
The House of Representatives Committee on Public Accounts has ordered 11 electricity distribution companies (Discos) to appear before it over an alleged N2.6 trillion debt owed to the federal government through the Nigerian Bulk Electricity Trading Company (NBET).
The decision was taken on Wednesday during an investigative session chaired by Bamidele Salam, following revelations contained in the Auditor-General’s 2021 report.
At the hearing, NBET Managing Director Johnson Akinnawo presented documents showing that, as of September 30, 2020, the 11 Discos were collectively indebted to the tune of N2.6 trillion. The report detailed the liabilities as follows: Abuja Disco – N330.4bn, Eko Disco – N231bn, Benin Disco – N233.2bn, Enugu Disco – N258.3bn, Ibadan Disco – N325.7bn, Ikeja Disco – N310bn, Jos Disco – N161.7bn, Kaduna Disco – N277.7bn, Kano Disco – N211.7bn, Port Harcourt Disco – N239.7bn, and Yola Disco – N107.4bn.
The Auditor-General’s findings also highlighted wider financial irregularities in the power sector. These included N30bn in unpaid debts from market operators, a N549m shortfall in NBET’s statutory income, N100bn paid for electricity not supplied to the national grid, N26bn owed by two foreign firms for exported power to Togo, Benin and Niger, N166bn under-remitted by Discos below regulatory thresholds, and N2.7bn in unsettled invoices.
After deliberation, a motion moved by Yahya Kusada and seconded by Billy Osawaru mandated the committee to summon all 11 Discos to explain why they have failed to meet their obligations. Kusada stressed that the companies must clarify their positions and present clear repayment strategies.
The lawmakers also resolved to invite other operators in the electricity market to address issues raised in the Auditor-General’s report.
