FG Vows To Offset Debt Owed DISCOs

The Federal Government has said it will pay debts the Ministries, Departments and Agencies, MDAs to Distribution Companies, owe DISCOs.

This was made known by the Minister of Power, Works and Housing, Babatunde Fashola in a communiqué issued by Akeem Bello, personal assistant to the Minister, at the power sector monthly meeting held at Ughelli, Delta state.

According to the minister, the government promised to pay the on a first come basis, a decision it took after receiving the report on the audit of debts owed to DISCOs by MDAs, estimated to be N59.3 billion.

“The report stated that all verified bills will be recommended for payment on a first come, first served basis,” the communiqué read.

By Bright Bassey

Sign up for our Newsletter

Enter your email and stay on top of things,

Subscribe!