An impending collapse of the distribution arm of the power sector value chain is looming as the revenue shortfall of the 11 electricity distribution companies has swelled to an all time high of N1.1 trillion.
The huge indebtedness to the Discos was disclosed by the Group Finance Officer of Sahara Power Group, owners of Egbin Power and Ikeja Electric, Mr. Aigbe Olotu, at the Sahara Power Roundtable held in Lagos yesterday.
Olotu, while faulting the N800 billion indebtedness to the Discos being bandied around said the figure was a far cry from the current debt profile of N1.1 trillion, adding that monthly revenue shortfall to the Discos is N30 billion.
Source: The Sun
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