DISCOS pleads with National Assembly on bond bill

DISCOS pleads with National Assembly on bond bill

The Association of Nigerian Electricity Distributors (ANED) has appealed t0 the national assembly to reconsider its stoppage of bond for electricity companies to avoid collapse of the power sector.

Mr Sunday Oduntan, the executive director, research and advocacy of ANED, who made the appeal, said the sector had a huge liquidity gap, which was being bridged by federal government’s intervention in form of bond, especially now that electricity consumers are not willing to pay bills.

According to him, government’s ministries, departments and agencies owe the sector over N100 billion electricity bills.

He said that electricity distribution companies (DISCOS) had no chances of obtaining bank loans because banks believed that it would be difficult to recover loans given to them.

The senate last October 12, passed a resolution stopping power, works and housing from using the Nigeria bulk electricity trading company (NBET) to give electricity companies a N309 billion bond.

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