By Munachimso Obienyi
The eleven electricity distribution companies in Nigeria remitted a total of N291 billion to the Central Bank of Nigeria (CBN) within the space of eight months.
Data obtained from the Nigerian Bulk Electricity Trading (NBET) Plc showed that the Discos remitted N291 billion out of the N526 billion invoice for electricity that was sold to them from January to August 2022.
The electricity was produced by power generation companies. Nigeria has 26 Gencos, which include Kainji, Shiroro, Egbin, Ughelli Transcorp, Sapele, Geregu, Afam IV-V, Olurunsogo, Omotosho, Olaoji, and Geregu NIPP. Others include Odupka NIPP, Olurunsogo NIPP, Omotosho NIPP, Ihovor NIPP, Gbarain NIPP, Ibom, Rivers NIPP, Trans Amadi, Omoku, Mabon Azura, Shell (Afam VI), and Jebba.
A breakdown of what was remitted in each month revealed that Discos’ payment for January was N39 billion out of N72 billion in February, they remitted N40 billion out of N66 billion, while in March it was N31 billion out of N65 billion. In April the power distributors remitted N39 billion out of N64 billion, and in May it was N30 billion of out N63 billion while in the month of June they paid N33 billion out of N58 billion.
