Reps Approve N248.6bn Relief for Electricity DisCos

On [date not specified], the Nigerian House of Representatives approved a financial relief package of N248.6 billion and a 10-year debt restructuring plan for the Kano Electricity Distribution Company, Ikeja Electricity Distribution Company, and another unnamed distribution company. This decision followed the adoption of a report by a technical subcommittee that reviewed the 2021 Auditor General's report, which highlighted the rising indebtedness among electricity distribution firms.

The approved framework includes N128.57 billion in accruing interest from 2015 to September 2025 and N120.06 billion in historical debt, bringing the total liabilities of the three companies to N248,637,089,278.83. The chairman of the subcommittee, Hon.

Mark Chidi Obetta, emphasized that these measures are part of broader legislative efforts to restore financial sustainability within the power distribution segment. The report indicated that total debt owed by the country's 11 distribution companies rose from N1 trillion in December 2024 to N1.3 trillion by September 2025.