FG tackles 11 DisCos over failure to remit ₦208 billion in 2022

According to the federal government, 11 power distribution businesses failed to pay a total of 208.8 billion to the Nigeria Electricity Supply Industry by 2022.DisCos failed to remit a total of 208.8 billion in 2022, according to information obtained from the power sector regulator.Abuja, Benin, Eko, Enugu, Ibadan, Ikeja, Jos, Kaduna, Kano, Port Harcourt, and Yola Discos are among the electricity distribution firms. A breakdown of the debt shows that in the first, second, third, and fourth quarters of 2022, 69.94 billion, 58.3 billion, 31.3 billion, and 49.23 billion were owed, respectively. According to the Nigerian Electricity Regulatory Commission, the Federal government agency entrusted with collecting remittances from DisCos, (NERC) the failure of the DisCos to remit the stated amounts during the period was due to the fact that the Aggregate Technical Commercial and Collection (ATC&C) losses recorded by the power firms went above the allowed threshold.The DisCos are empowered to bill the consumers directly and also, collect payments for electricity bills on behalf of the power market. The collected bills are then remitted to the power market through another government arm - the Nigerian Bulk Electricity Trading Plc (NBET) and the Market Operator (MO) an arm of the Transmission Company of Nigeria (TCN).