The House of Representatives Public Accounts Committee has resolved to approve financial relief measures and a 10-year debt restructuring framework for the Kano, Jos, and Ikeja Electricity Distribution Companies (DisCos).
The decision covers N128.6bn in accrued interest on debts from 2015 to September 2025 to be waived, and historical debts amounting to N120.1b to be restructured over a period not exceeding 10 years
This brings the combined outstanding liability to N248.6 billion.
The committee’s resolution follows the adoption of a technical subcommittee report, which forms part of the 2021 Auditor-General for the Federation’s report on the growing indebtedness of eleven electricity distribution companies as escalated by the…