2017 BUDGET: NASS approves N40bn to settle electricity bills

OrderPaperToday – The 2017 budget passed on Thursday by the National Assembly allocated the sum of N40 billion to pay off outstanding electricity bills of Federal Government Ministries, Departments and Agencies (MDAs), military and paramilitary bodies.

The unpaid bills were provided for in the budget as a result of reports that Distribution companies (DISCOs) would cut off power supply to MDAs over N93bn outstanding debts, which had later risen to an estimated N100 billion.

According to the Director General, Budget Office of the Federation, Ben Akabueze, there was a presidential directive to deduct outstanding electricity bill of the military and para-military from their 2017 budget votes.

He had said: “Government has made provisions in its 2017 Budget to clear its outstanding electricity bills, and this we hope, will provide the much needed liquidity injection to support the investors.”

DISCOs had expressed the belief that by the Federal Government paying off the debts it would yield the desired goal of infusing more liquidity into their operations.

 

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