The House of Representatives Committee on Public Accounts has issued a summons to 11 electricity distribution companies (Discos) to account for an alleged ₦2.6 trillion debt owed to the federation account.
The decision came on Wednesday at an investigative hearing led by Committee Chairman, Rep. Bamidele Salam, after members reviewed findings from the 2021 report of the Auditor General of the Federation.
At the session, the Managing Director of the Nigerian Bulk Electricity Trading (NBET) PLC, Johnson Akinnawo, presented documents revealing that as of September 30, 2020, the cumulative liabilities of the Discos stood at ₦2.6 trillion.
According to the NBET breakdown, the debts are distributed as follows:
Abuja Disco – ₦330.4 billion
Eko Disco – ₦231 billion
Benin Disco – ₦233.2 billion
Enugu Disco – ₦258.3 billion
Ibadan Disco – ₦325.7 billion
Ikeja Disco – ₦310 billion
Jos Disco – ₦161.7 billion
Kaduna Disco – ₦277.7 billion
Kano Disco – ₦211.7 billion
Port Harcourt Disco – ₦239.7 billion
Yola Disco – ₦107.4 billion
The Auditor General’s report highlighted several financial gaps in the sector, including ₦30 billion uncollected by NBET from market operators, ₦549 million missing from NBET’s 1% institutional charge, and over ₦100 billion paid to Generation Companies (GENCOs) for power that was never supplied to the grid. It also flagged ₦26 billion owed by foreign firms for electricity exported to Togo, Benin, and Niger, ₦166 billion in under-remittances by Discos below the regulatory threshold, and ₦2.7 billion in unsettled invoices.
Following the review, Rep. Yahya Kusada moved a motion—seconded by Rep. Billy Osawaru—mandating that the Discos appear before the committee.
“With the magnitude of liabilities before us, these companies must appear before the Committee to clarify their positions and outline repayment plans,” Kusada stated.
The lawmakers also resolved to extend invitations to other operators in the electricity market to respond to issues raised in the Auditor General’s findings.
