Executive Officer of the Nigeria Electricity Liability Management Company (NELMCO) Limited, Dr. Samuel John Agbogun, has put the firm’s outstanding liabilities at over N713 billion.
According to him, the liabilities were debts owed creditors including the Independent Power Producers (IPPs), pensioners of the defunct Power Holding Company of Nigeria (PHCN) and power producers.
He said: “NELMCO has an outstanding liabilities of over N713 billion as huge debts that were owed to creditors including the Independent Power Producers (IPPs), partly foreign loans as well as those owed government agencies, PHCN pensioners and power producers.”
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