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NEWS

N47b debt: AEDC Threatens to Cut Power to Aso Villa, CBN, Others

Adedoja Adesoji
• February 20, 2024 • 2 min read

The Abuja Electricity Distribution Company (AEDC) yesterday threatened to disconnect electricity supply to the nation’s Presidential Villa, including 86 ministries, departments and agencies (MDAs) of government over N47.1 billion debt.

It gave the defaulting entities 10 days moratorium to comply and defray the debts or risk blackout from February 28.

Among the list of debtors are the Chief of Defence Staff- Barracks and military formations owing over N12 billion, Ministry of the Federal Capital Territory (FCT) (N7.5 billion); Ministry of Finance (N5.4 billion) and Niger State Liaison Office, Abuja (N3.4 billion).

Others include Ministry of Petroleum Resources, Ministry of Education; Central Bank of Nigeria (CBN); Nigeria Police Force; Nigerian Immigration Service (NIS); Ministries of Finance; Information; Budget; Works; Housing; Economic and Financial Crimes Commission (EFCC); Federal Inland Revenue Service (FIRS); Federal Airports Authority of Nigeria (FAAN) and state liaison offices in the FCT.

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“The Abuja Electricity Distribution PLC is constrained to do this publication with the details of Government, Ministries, Departments and Agencies with long outstanding unpaid bills for services rendered to them through the provision of electricity supply in that our previous attempts to make them honour their obligations have not achieved the desired results,” the notice read, adding “The relevant MDAs are hereby given notice that the AEDC shall after the expiration of 10 days from the date of this publication, that is, after Wednesday, 28th February, 2024, embark on the disconnection of our services to them until they discharge their obligations to us by paying their debts.”

Nigeria’s power generation sector has been embroiled in debt burden for years.

Last week, the Minister of Power, Adebayo Adelabu, warned Electricity Distribution Companies (DisCos) to sit up, otherwise any of them found wanting would have its licence withdrawn.

The Bureau of Public Enterprises (BPE) had also disclosed plans to sell off the remaining 40 per cent shares of the Federal Government in the DisCos in 2024 while the Nigerian Electricity Regulatory Commission (NERC) had time after time revoked DisCos’ operational licences due to debts running into billions of naira.

According to a NERC report, the total revenue collected by all DisCos in the third quarter of 2023 was N267.61 billion out of N349.55 billion billed to customers.

Recall that over the years, the Federal Government, Asset Management Corporation of Nigeria (AMCON), and some banks took over some discos due to alleged poor performance and liquidity crisis.