Reps probe N2.6trn power sector debt, direct JEDC to remit N72bn to FG in 60 days
Reps probe N2.6trn power sector debt, direct JEDC to remit N72bn to FG in 60 days
The House of Representatives Committee on Public Accounts Thursday ordered the Jos Electricity Distribution Company (JEDC) to pay about N72 billion to the federal government within 60 days.
The directive is part of its ongoing investigation into multi-trillion naira debts owed by electricity distribution companies (DisCos) to the federation account.
The directive came during a public hearing of the committee chaired by Hon. Bamidele Salam, following a review of the 2021 report of the Auditor-General of the Federation and documents submitted by the Nigerian Bulk Electricity Trading (NBET) Plc.
NBET said Jos DisCos’ indebtedness as of 30th September 2020 stood at N161.7 billion, as the company admitted to owing N72 billion as of 30th May, 2025.
NBET’s representative told the committee that as of the same May 2025 date, the reconciled amount owed by JEDC stood at N98.7 billion, leaving a discrepancy of N26.7 billion between the two parties.
After deliberations, the committee resolved that the admitted N72 billion must be remitted to the federal government within 60 days, and directed both NBET and JEDC to reconcile the outstanding N26.7 billion within 21 days and report back to the committee.
Chairman of the committee, Salam, stated the importance of prompt remittances to the federation account, adding that the government could no longer tolerate non-compliance by operators in the power sector.
“This is public money, and the federal government urgently needs these funds to fulfill its responsibilities. We expect full compliance and accountability,” he said.
In a related development, the committee has also directed the Kano Electricity Distribution Company (KEDCO) to pay N40.7 billion, representing 50 percent of its verified debt of N81.5 billion, within 30 days.
