Liquidity Crisis: DISCOS Urges NASS To Intervene In Power Sector - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (F.BA)
October 24, 2019
The Electricity Distribution Companies, DISCOS has appealedto the National Assembly to intervene in the current liquidity crisis in thepower sector.
The Executive Director, Research and Advocacy, Associationof Nigerian Electricity Distributors Sunday Oduntan, made the appeal in astatement in Abuja.
Oduntan said that the DISCOs needed about eight-point-sevenbillion naira to comply with the remittance order set by NERC.
According to the Director, the breakdown of the requiredamount shows that the DisCos will require a monthly amount ofseven-hundred-and-twenty-five million naira to meet the threshold ofthirty-five percent remittance level set by NERC in the meantime.
The Nigeria Electricity Regulatory Commission, NERC hadrecently notified eight DISCOs that it would cancel their licences within60-days.
The affected DISCOS are Kaduna, Abuja, Ikeja, Benin , Enugu,Kano, Port-Harcourt and Yola.