International Consumers Owe Power Sector $100m - FG

International Consumers Owe Power Sector $100m - FG

The Federal Government has indicated that international electricity consumers who get their supply from Nigeria owe the power producers $100m (N30.5bn at the official exchange rate of N305 to a dollar).

Documents containing the minutes of the recent 16th power operators meeting that was chaired by the Minister of Power, Works and Housing, Babatunde Fashola, as well as sector activities in the past week, showed that producers of electricity and service providers in Nigeria were being owed billions of naira.

The minutes, compiled by the Federal Ministry of Power, specifically stated that a report on the debt being owed the power producers had been submitted to the minister. The Permanent Secretary, FMoP, Mr. Luis Edozien, according to the minutes, also directed the Transmission Company of Nigeria and the Nigeria Bulk Electricity Trading Plc to work together to recover the money ($100m).

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