Power distribution companies failed to remit a total of N112bn to the Nigerian Bulk Electricity Trading Company and the Market Operator of the sector in the first quarter of this year.

In the latest Nigerian Electricity Regulatory Commission’s ‘First Quarter 2018 Nigeria Electricity Supply Industry Performance’, the Discos were said not to have remitted N97bn and N15bn to the NBET and the MO, respectively, during the period under review.

An analysis of the report, which was obtained on Tuesday in Abuja, showed that out of the N137bn invoiced amount to the power firms by the NBET, the Discos only remitted N40bn, leaving a balance of N97bn. The document also showed that Nigeria’s power grid recorded six total collapses during the period, in contrast to just one in the preceding quarter of 2017.

Source: The Punch

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