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- The indebtedness to Nigeria’s power sector as a whole is worth N809bn, industry operators have revealed.
- According to the chief executive officers and senior management members of the Niger Delta Power Holding Company; Association of Nigerian Electricity Distributors, an umbrella body of the power distribution companies; Nigerian Electricity Regulatory Commission; gas producers; as well as power generation companies, the power sector may collapse soon if nothing serious is done to clear the debt.
- The Managing Director/Chief Executive Officer, NDPHC, Mr. Chiedu Ugbo, disclosed that the company was being owed over N105bn as of August 2016.
- Similarly, the Chief Executive Officer, ANED, Mr. AzuObiaya, stated that the debt owed the power distribution companies by private consumers, businesses and government ministries, departments and agencies post-privatization was over N568bn, adding that the sector as a whole was struggling with a revenue shortfall of over N809bn.
- Operators at the dialogue noted that the debt might be over N1tn if the other arms of the sector like the power generation companies, Transmission Company of Nigeria, Nigerian Bulk Electricity Trading Company Plc and gas producers compute the figures they were being owed by the power market.
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