By Abdullahi M. Gulloma Abuja–
Th e Federal Executive Council (FEC) has approved N25, 994 billion to be paid to Distribution Companies (DISCOs) as debts owed by Ministries, Departments and Agencies (MDAs).
Briefi ng State House correspondents at the end of the weekly FEC meeting in Abuja, Minister of Power, Works and Housing, Mr. Babatunde Fashola, said the amount was approved to be paid to the DISCOS out of the claims of N67.
41 billions, leaving a diff erential of about N41 billion.
He said government would deduct the sum from the N500 billion the DISCOs owed the Nigerian Bulk Electricity Trader (NBET), a 100 per cent government-owned company.
“We presented a memorandum to FEC to approve the verifi ed sum of monies being debts owed by MDAs to distribution companies for electricity supplied to them.
Since the beginning of this administration, claims of debts by government to DISCOS have been a matter of concern especially in the light of liquidity issues.
“We had committed that those fi gures would be verifi ed and the verifi ed sums, government would pay.
We have concluded the verifi cation and we now ask Council to approve the verifi ed sum of N25.
994billion owed by MDAs of the federal government to be paid to the DISCOS out of the claims of N67.
41 billion.
So, there is a diff erential of about N41billion,” he said.
