Reps Approve N248.6bn Relief for Kano, Jos, Ikeja DisCos

The House of Representatives has approved a N248.6 billion relief and debt restructuring plan for the Kano, Jos, and Ikeja Electricity Distribution Companies (DisCos). This decision, made by the Public Accounts Committee, includes a ten-year debt restructuring plan covering accrued interest debts from September 2015 to September 2025, amounting to N128,575,190,740.54.

The historical debt totals N120,061,898,737, resulting in a combined outstanding liability of N248,637,089,278.83. The committee's resolution is part of the 2021 Auditor General's report, which highlighted the growing indebtedness of the eleven DisCos, which has escalated to over N1.3 trillion by September 25, 2025.

Hon. Mark Obetta, chairman of the technical subcommittee, recommended this plan as part of legislative efforts to stabilize the electricity market and address legacy liabilities affecting the sector's financial sustainability.

The committee aims to verify the Auditor General's claims and establish the current debt position while identifying reasons for the persistent failures of DisCos to meet their obligations.