Stella Dimoko Korkus.com: Federal Government Approves Payment Of N26bn Owed Electricity Distribution Companies

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Thursday, 5 October 2017

Federal Government Approves Payment Of N26bn Owed Electricity Distribution Companies

The Federal Government on Wednesday approved the payment of N25.994bn being debts owed by Ministries, Departments and Agencies to electricity distribution companies.





These were the highlights of the decisions reached at a meeting of the Federal Executive Council presided over by President Muhammadu Buhari at the Presidential Villa, Abuja.


The Minister of Power, Works and Housing, Mr. Babatunde Fashola, told State House correspondents that since the inception of the incumbent administration, claims of debts owed by government to DISCOS have been a matter of concern, especially in the light of liquidity issues.


Fashola said the government had earlier agreed that it would only pay verified sums after proper verification is done.


We have concluded the verification and we now ask council to approve the verified sum of N25.994bn owed by MDAs of the Federal Government to be paid to the DISCOS out of the claims of N67.41bn.





Edited From Punch

3 comments:

Anonymous said...

This our yeye people go likefilm trick well well ooo..na una Sabi cuz dis country matter don tire me



Mc pinky

jelly said...

I hope this payment will increase power supply and reduce costs of bill

Anonymous said...

Indirectly, the money wasn't paid to them. It was used to pay the money DISCOS owed GENCO/Transmission. Had it been that the money was released to DISCOS, it would have been used to carry out alot of projects that will benefit the masses.

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