Discos Remit N291bn To CBN In Eight Months

Data obtained from the Nigerian Bulk Electricity Trading has shown that the eleven electricity distribution companies in Nigeria remitted a total of N291 billion to the Central Bank of Nigeria within the space of eight months.

The data said that the Discos remitted N291 billion  out of the N526 billion  invoice for electricity that was sold to them from January to August 2022.

The electricity was produced by power generation companies. Nigeria has 26 Gencos, which include Kainji, Shiroro, Egbin, Ughelli Transcorp, Sapele, Geregu, Afam IV-V, Olurunsogo, Omotosho, Olaoji, and Geregu NIPP.

Others include Odupka NIPP, Olurunsogo NIPP, Omotosho NIPP, Ihovor NIPP, Gbarain NIPP, Ibom, Rivers NIPP, Trans Amadi, Omoku, Mabon Azura, Shell (Afam VI), and Jebba.

A breakdown of what was remitted in each month revealed that Discos’ payment for January was N39bn out of N72bn.

In February, they remitted N40bn out of N66bn, while in March it was N31bn out of N65bn.

In April the power distributors remitted N39bn out of N64bn, and in May it was N30bn of N63bn, while in the month of June they paid N33bn out of N58bn.

In July they remitted N39bn out of N72bn, and in August they paid N40bn out of N66bn.