Leading Reporters
  • Headlines
  • Health
  • Business
  • Exclusives
  • Investigation
  • Entertainment
  • Opinion
Tuesday, December 2, 2025
Hot
Tinubu Nominates Ex-CDS Christopher Musa As Defence Minister
BREAKING: FG Publishes List of 15 Alleged Terrorist...
FG Proposes 40% Salary Increase for ASUU Lecturers
Northern Governors Host Emergency Meeting Over Escalating Security...
Tinubu appoints ex-INEC Chair Yakubu, Fani-Kayode, Reno Omokri,...
Niger Delta Boss Jennifer Adighije Accused of Corruption,...
India Orders $570 Million Payout in Major Fraud...
Dangote Refinery Saves Nigeria over ₦10bn Annually in...
Bandits Abduct 16-year-old boy, six girls in FCT...
Social Security: A Missing Link in Nigeria’s Search...
  • About Leading Reporters
  • Contact Us
Leading Reporters
Advertise With Us
  • Headlines
  • Health
  • Business
  • Exclusives
  • Investigation
  • Entertainment
  • Opinion
Hot
Tinubu Nominates Ex-CDS Christopher Musa As Defence Minister
BREAKING: FG Publishes List of 15 Alleged Terrorist...
FG Proposes 40% Salary Increase for ASUU Lecturers
Northern Governors Host Emergency Meeting Over Escalating Security...
Tinubu appoints ex-INEC Chair Yakubu, Fani-Kayode, Reno Omokri,...
Niger Delta Boss Jennifer Adighije Accused of Corruption,...
India Orders $570 Million Payout in Major Fraud...
Dangote Refinery Saves Nigeria over ₦10bn Annually in...
Bandits Abduct 16-year-old boy, six girls in FCT...
Social Security: A Missing Link in Nigeria’s Search...
Leading Reporters
Leading Reporters
  • Headlines
  • Health
  • Business
  • Exclusives
  • Investigation
  • Entertainment
  • Opinion
Copyright 2024 - All Right Reserved
Home > DISCOs
Tag:

DISCOs

Headlines

Nigeria Generates Less Than 6000 Mega Watts Since Independence – DISCOS

by Folarin Kehinde August 12, 2022
written by Folarin Kehinde

Ever since Nigeria attained its independence till date, the country has been plagued with poor power supply as it has not generated up to 6000 megawatts (mw) of electricity.

This statement was made by the the Association of Nigerian Electricity Distributors (ANED) has said.

The Executive Director, Research and Advocacy, ANED, an umbrella body of power distribution companies (Discos), Mr. Sunday Oduntan, disclosed this in Lagos at a one-day workshop for energy reporters and civil society groups.

The workshop centred on the topic: “Building Consumer Awareness and Strengthening the Customer Service Capacity Of Electricity Distribution Companies”, and was organised by ANED in partnership with McArthur Foundation.

Oduntan, who stated that Nigeria would require 200,000mw of power generation to meet the electricity need of its 200 million citizens, added that going by international standards, 1,000mw was needed to serve one million people.

Of Nigeria’s 13,000mw of installed generation capacity, only 3,500mw to 5,000MW was available for transmission to the final consumers.

With 28 generating plants connected to the national power grid, many suffer from recurrent challenges such as maintenance and repair requirements, trips, faults and leakages that make them unavailable for evacuation to the national grid sometimes.

Also, gas supply shortages caused by the inability of generation companies to pay for gas, sub-optimal gas pricing, as well as the vandalisation of gas transportation facilities leading to shutdown of gas plants were among the many impediments to power generation in the country.

“Since 1960, the country has not generated up to 6,000mw of electricity thus creating a huge gap in service delivery in the system.

“There are 28 power generation companies in Nigeria which comprise three hydro powered stations and 25 thermal stations currently operating below capacity and collectively generating an average of about 4,000 megawatts,” Oduntan said.

Expressing dissatisfaction with the performance of the government-controlled and centralised Transmission Company of Nigeria (TCN), which has been notorious for witnessing unending collapse of its grid with attendant nation-wide blackout, the ANED spokesman advised the federal government to hand over TCN to capable private people that can operate and manage it better.

Noting that TCN has contributed to the poor performance of the sector, he warned that failure to privatise the company would keep Nigeria perpetually experiencing power supply disruptions with attendant negative impact on homes and businesses.

Oduntan also criticised TCN for not having Supervisory Control and Data Acquisition (SCADA) since all these years of its operations, arguing that that was the reason it was hard for the company to discover faults seamlessly and in real-time from its office without someone physically reporting faults on its networks to it

SCADA is a digitalised system that enables prompt and more efficient monitoring of all activities on the networks and resolves issues detected on time.

He, however, exonerated the Discos for their inability to pay for electricity purchased from the Gencos, blaming that on what he described as energy dumping and, in most cases, inadequate supply to meet customer requirements.

He said the non-implementation of cost-reflective tariff in the power sector was a major impediment to the development of the sector and achieving steady power supply to customers nation-wide.

August 12, 2022 0 comments
0 FacebookTwitterPinterestThreadsBlueskyEmail
Headlines

Just In: NERC Approves Tariff Increase for DisCos

by Folarin Kehinde May 5, 2022
written by Folarin Kehinde

The Nigerian Electricity Regulatory Commission (NERC) has given Port Harcourt Electricity Distribution Company (PHEDC); Jos Electricity Distribution Company (JEDC); Kano Electricity Distribution Company (KEDC); Kaduna Electricity Distribution Company (KEDC); Jos Electricity Distribution Company (JEDC); Ikeja Electricity Distribution Company (IKEDC) and Ibadan Electricity Distribution Company (IBEDC) approval to increase their tariff rates.

The new approval took effect from January 1, 2022 but the new rate is from February 2022.

According to the document titled: “This regulatory instrument shall be cited as Multi-Year Tariff Order (MYTO-2022) for Port Harcourt Electricity Distribution Company Plc (PHED”), NERC based the increase on the Performance Improvement Plans of the DisCos and indices such as gas price, inflation, exchange rate, US inflation rate and available generation capacity.

The commission noted that the indices with potential impact of on electricity rates were considered.

It added that these indices shall be reviewed in every six months to update the tariffs with changes in the indices as applicable in line with the MYTO.

This was contained in the commission’s Order No: NERC/304/2021, which chairman, Sanusi Garba and Vice Chairman Musiliu Oseni signed on 29th December, 2021.

The document explained: “Consequently, following the approval of PHED’s PIP on 30th April, 2021, the Commission issued the MYTO-2021 Extraordinary Tariff Order effective from 1st July 2021 in consideration on PHED’s CAPEX proposals over a 5-year plan in line with the approved PIP.

“Accordingly, this MYTO-2022 order restates PHED’s approved 5-year CAPEX and relevant assumptions applied to forecast revenue requirements and applicable tariffs for the period 2021-2026 in line with MYTO Methodology and Regulations Procedure for Electricity Tariff Reviews in the Nigerian Electricity Supply Industry (NESI).”

It is programmed from 1st July 2021 to 30th June, 2026.

The document showed that for the PHED (A-Non MD) customers who paid N56.16/kwh in January 2022 will now (February to December 2022) pay N60.67/kwh).

(B Non-MD) customers who paid N56.64/kwh in January 2022, will now pay N59.64/kwh.

May 5, 2022 0 comments
0 FacebookTwitterPinterestThreadsBlueskyEmail
GeneralGeneral

Meet Mr. Fadeyibi “The Hitman from Transcorp Power Ltd” Doing the ruthless bidding of UBA Bank in AEDC

by Leading Reporters April 13, 2022
written by Leading Reporters

Electricity consumers from the Federal Capital Territory; Nasarawa, Niger, and Kogi States are in for rough times owing to a ruthless revenue drive being spearheaded by Mr. Adeoye Fadeyibi, on behalf of United Bank for Africa, UBA.

UBA is a major creditor to AEDC.  Technically, UBA owns the Abuja Electricity Distribution Company  AEDC as it stands now. This followed several loan defaults by the electricity distribution company via its UBA Account No. 1019269503. 

An insider source said that Tony Elumelu routed for Fadeyibi after the later set up structures in Eko Electricity Distribution Company EKDC that saw revenue skyrocketing and operational costs and losses down.  Fadeyi’s feat in Elumelu’s Transcorp Power Ltd, Ugbelli where he ramped up power generation of the company from its abysmal 164MW to 634MW within interval of 25 months  was too glaring to be overlooked and needs to be replicated in AEDC, by Tony Elumelu’s estimates.

Other accounts the company maintains with UBA include AEDC Impress Funding  Account No. 22174094498.  This account has become a conduit through which billions of Naira were fleeced under the subheading – Operational impress.  For instance, between October and December, 2018, a total of N1,579,015,000 was mopped into the account as imprest. UBA Account No 10176666012 is believed to be another suspicious account with which the erstwhile management of AEDC carried out their acts.

Other AEDC accounts with UBA  include account no. 1019034680.  This account, according to investigation was used to sweep funds which were later diverted to yet another UBA account No 1017547366.

Another interesting activity uncovered is a UBA Account No.1017681365, allotted to AEDC WAMBA, Nasarawa State.  The account is shrouded in secrecy and may have been used as a veritable conduit for diversion of funds.  AEDC Okene Area Office with UBA account numbers 1021027984 and 1017805387 are two of the many accounts of AEDC that were structured to be leveraged to soothe the stealing appetite of the erstwhile management of AEDC.  

According to a discreet source, the former management played a conscious, pre-meditated  role that paved way for UBA acquisition of AEDC. 

Kabba AEDC Account No 1017805387 was another porous and specially structured account allegedly used in fleecing the Federal Government.

Mr. Fadeyibi prior to being drafted to AEDC by Tony Elumelu-led UBA worked as the Managing Director and Chief Executive Officer of Transcorp Power Limited, Ugbelli.  The company is owned by Tony Elumelu.  Mr Fadeyibi career path has as well cut across  Eko Electricity Distribution Company where he was the MD/CEC as well as General Electricity.

A discreet source who spoke to LeadingReporters on condition of anonymity said that Mr Fadeyibi is on a mission.  A ruthless mission to bend all known rules in the bank’s bid to recover all the monies and loans AEDC owns UBA.

“His mission from his paymaster is clear – Bend all rules, squeeze all sources and get us all the money.  Unfortunately, the consumers are the ones to be squeezed in a sector where regulators are in the pockets of the players.  It is a pathetic situation”.

The electricity consumers with the capital territory and its neighboring states are in for a hard and sad time as the move by UBA would see them paying for more and getting less in terms of quality service. 

“Money, revenue, more revenue and more profits are now the drive force in AEDC”

“The former guys were hired to play the role they played that paved way for UBA to take over AEDC.  AEDC is one of the electricity distribution companies that has proved to be viable.  UBA management has been eyeing the company and incessant loan was the best way to dive in”.

UBA continued to avail its loan spree to AEDC, targeting that a time would come when AEDC would not be able to meet its financial obligation to the bank, thereby paving way for outright ownership.

“Tony Elumelu understands the viability of AEDC, being someone whose company Transcorp Power Limited is a player in the power sector”.  The source said.

April 13, 2022 0 comments
0 FacebookTwitterPinterestThreadsBlueskyEmail
Investigation

Revealed: How AEDC Spent Over N16b In a day On Admin. Expenses; Allegedly Evade Tax and Use Inflated Costs to Shortchange FG (Part 1)

by Leading Reporters March 30, 2021
written by Leading Reporters

Financial records unveiled by the League of Patriot, exclusively obtained by LeadingReporters, has alleged that AEDC uses different accounts, mainly domiciled with the United Bank of Africa, UBA and recently, Fidelity Bank to perpetrate these nefarious acts. 

The accounts include AEDC Impress Funding Account with UBA.  Account No. 22174094498.  This account has become a conduit through which Billions of Naira are fleeced under the subheading – Operational imprest.  For instance, between October and December, 2018, a total of N1,579,015,000 was mopped into the account as impress.

It was John Perkins, the author of “Confession of An Economic Hitman” who said that electricity, industrial parks, highways and ports are the things that made huge profits for companies that are sent to wreak havocs on the economies of target-nations.

Perkins’s confession in his widely-read book gives a clue to why Nigerians, the Federal Government and electricity consumers would remain at the mercy of companies like Abuja Electricity Distribution Company AEDC. Mr. Perkins went further to expose how they coopt local greedy economic jackals in government offices, the banking and other strategic sectors in any country of their interest to ensure that their appetite to ruin and hold the people in perpetual poverty are sealed.

AEDC activities, according to investigation carried out by group of concerned Nigerians under the umbrella of League of Patriots revealed that the company is structured to fleece Nigeria, exploit the people, defraud the system, evade tax and by extension divert all the proceeds of their loots to their agents both locally and internationally.

The group has promised to work with the anti-corruption agencies, especially the Economic and Financial Crime Commission under its new leadership that has expressed interest to institute a probe in the power sector.

Another Imprest Account as claimed by Leagues of Patriots is Account No. 1017666012, with United Bank of Africa, which is used for these alleged nefarious activities. Investigation carried out by the group revealed further that Account No. 1019034680 with UBA is used to sweep funds which are later diverted to yet another UBA account No 1017547366.

Furthermore, yet another account uncovered by the group is a UBA Account No.1017681365, allotted to AEDC WAMBA, Nasarawa State.  A close investigation revealed that the said account is not linked to any TIN no, which makes it hard for Government to collect its tax from AEDC.

AEDC Okene Area Office with Account No 1021027984 with UBA is one of the many accounts of AEDC that were structured to evade tax as all proceeds from Okene axis were technically structured to evade tax.

Kabba AEDC Account No 1017805387 is another porous and specially structured account allegedly used in fleecing the Federal Government.  Recall that the Federal Government of Nigeria has 40% stake in AEDC through its agency, Bureau of Public Enterprises.  The agency, according to League of Patriots has become a willing partner in crime in short-changing the Government and the people of Nigeria.

All efforts to get AEDC to address the issue proved abortive as no replies were given to mails sent to them, for official response despite series of promises from the communication and accounts units of AEDC to do so

March 30, 2021 0 comments
0 FacebookTwitterPinterestThreadsBlueskyEmail
BusinessHeadlines

FGN N50b monthly electricity susbsidy not True

by Leading Reporters March 18, 2021
written by Leading Reporters

Organised Labour has tackled the Federal Government over claims of subsidising electricity supply across the country for over N50billion monthly.

The administration of President Goodluck Jonathan privatized the electricity sector in November 2013 and handed it over to 11 distribution companies and six generating companies.

Last month, Minister of Power Sale Mamman, said the Federal Government was paying N50 billion monthly to subsidise electricity across.

But Labour yesterday wondered why the government would pay subsidy for a sector it claimed to have privatized.

Deputy President, Nigeria Labour Congress (NLC), Joe Ajaero, asked the government to come out and tell Nigerians the level of money they were giving to the operators of the sector.

Ajaero, who doubles as the General Secretary of the National Union of Electricity Employees (NUEE), asked the government to unmask the real owners of the Distribution and Generating Companies the sector was sold to in 2013.

He spoke at a briefing to unveil the burial arrangements for the late Secretary General of the Medical and Health Workers Union (MHWUN), Dr Silas Adamu.

The MHWUN scribe and his wife and daughter died in a road accident along Abuja-Kaduna.

Ajaero said: “I have never believed that there is subsidy. Let us take the electricity for instance. When it was under NEPA, the tariff was down there; nobody gave NEPA one kobo. And NEPA was running the lowest tariff. It was not subsidised.

“Now you sold it to people and they increased tariff five times and you still tell me you are subsidising it. I think there is something wrong there. And throughout the meeting we told them there is no subsidy.”

“How do you subsidise a commodity that is the private sector? Are they subsiding garri, banana and plantain that are in private houses? Having privatise the sector unless the so called operators are blackmailing them (Fed Govt) and collecting money free from them (government).

“If a product is sold for N10 per kilowatt hour you then privatise and started selling it at N30 per kilowatt hour, with additional N20 and then you say you are subsidising it doesn’t add up. I don’t know where that money is coming from. It is not true.

“They (government) should come out and tell Nigerians the level of money they are giving to the operators. Nigerians should be able to unfold the real owners of the Discos.

“The names we are hearing none of them own the Discos whether the MD or Chairman or both and we need to know. We have said this again and again and people are saying subsidy. Then you say you have subsidised with about N1.3 trillion and you sold it at N400 billion and we don’t ask questions?

“Why will subsidy be more than the price?”

The labour leader also said governance structure in the country has collapsed.

“Why will subsidy be more than the price?”

The labour leader also said governance structure in the country has collapsed.

Ajaero said: “Governance to a very large extent seems to have collapsed because when we talk of there is no electricity it will seem as if the roads are working or the rail system is working or the roads are working.

“The same way there is no electricity there is no water. You can’t even go through the public water system and open the taps. Growing up, I can still draw an inference from the 70s. That is why I said Nigeria is under developing; the country is going down.

“Things are getting bad and the problem we have is that of governance and if we fix governance things will start working again.”

March 18, 2021 0 comments
0 FacebookTwitterPinterestThreadsBlueskyEmail

Recent Posts

  • Tinubu Nominates Ex-CDS Christopher Musa As Defence Minister

    December 2, 2025
  • Poor Toilets Driving GBV, School Dropouts – Wateraid

    December 2, 2025
  • BREAKING: FG Publishes List of 15 Alleged Terrorist Financers in Nigeria [SEE LIST]

    December 1, 2025
  • FG Proposes 40% Salary Increase for ASUU Lecturers

    December 1, 2025
  • Northern Governors Host Emergency Meeting Over Escalating Security Concerns

    December 1, 2025

Usefull Links

  • Contact Page
  • About Leading Reporters
  • Contact Us
  • Headlines
  • Investigation
  • Exclusives
  • Opinion
  • Business
  • Facebook
  • Twitter
  • Instagram
  • Linkedin

@2021 - All Right Reserved. Designed and Developed by PenciDesign


Back To Top
Leading Reporters
  • Featured
  • Politics
  • Opinion
  • Business
  • Entertainment
  • Sports
  • About Us
  • Contact