Nigeria Recovers 20 Billion Naira Electricity Debt From 2 Countries
You probably have no idea that Nigeria supplies electricity to some neighbouring countries, despite keeping its people in perpetual darkness.
Unfortunately, these West African countries have not been good customers as some of them including Benin and Niger Republics remained heavily indebted to federal authorities.
But on Monday, the federal government announced that it had recovered $64.63 million, about 20-billion-naira from the Republics of Benin and Niger.
According to the Minister of Power, Works and Housing, Babatunde Fashola, the Nigerian Bulk Electricity Trading Company has been directed to work out the modalities for the distribution of the sum.
The Nigerian Bulk Electricity Trading Company, NBET and the Transmission Company of Nigeria had jointly written the power firms of the two countries in August, demanding the payment of an outstanding $115.91 million, about 35.4 billion naira.
But in his speech at a power event in Asaba on Monday, Fashola said, “I am happy to announce that we have recovered $64,630,055 from our international customers in Benin Republic and Republic of Niger. The Nigerian Bulk Electricity Trader will work out the modalities for distribution.”
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