One month after private firms took over Nigeria’s power sector, the companies are already defaulting in terms of making remittance to the Federal Government.
The Nigerian Electricity Regulatory Commission, which gave this indication on Wednesday, threatened to sanction the errant firms if they failed to pay up their debts before 4pm on Thursday (today).
The Chairman, NERC, Dr. Sam Amadi, said the remittances were monies meant for services rendered to the companies by the government and directed the power firms to make the payment to the electricity Market Operator.
Amadi spoke at a news briefing at the commission’s office in Abuja.
He said, “The MO is the one that receives these remittances and will have up-to-date information on the amount so far remitted. But as of Monday, the report from the MO is that only about N2bn has been paid and N10bn is outstanding.
On the challenges hampering the firms from complying, the NERC boss said, “There are no valid excuses for not making remittances and we have written a letter to them giving a deadline of 4pm on Thursday (today). This is for all the required remittances to be made to the MO’s account.”
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