Electricity Distributors Are Broke, Regulatory Body Gives Excuse For Power Outages

The Nigerian Electricity Regulatory Commission (NERC), has attributed the frequent disruptions in electricity supply in Nigeria to the fact that Electricity Distribution Companies (DisCos) are technically insolvent.
Chairman of the Commission, Engineer Sanusi Garba, who made this known at the 8th Africa Energy Market Place 2024 in Abuja yesterday, May 17, said that the electricity companies are unable to pay for invoices sent to them from the electricity market and invest in network expansion projects.
The NERC boss added that the poor financial state of the DisCos makes it difficult for them to raise the needed capital to invest.
“Today when you look at distribution companies, they are clearly and technically insolvent, and you also want them to raise capital in terms of debt or equity. It’s a herculean task.”