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Home/ Questions/Q 210
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Daniel
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DanielScholar
Asked: April 7, 20202020-04-07T16:16:13+00:00 2020-04-07T16:16:13+00:00In: Others

Who spends the money we pay for electricity?

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You might wonder how your DisCos spends the electricity bills you pay for.

 

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    1. Kenny Teacher
      2020-04-07T16:26:56+00:00Added an answer on April 7, 2020 at 4:26 pm
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        Kenny Teacher
        2020-04-07T20:53:45+00:00Replied to answer on April 7, 2020 at 8:53 pm

        To start with, the bills you pay on the electricity service you get from your distribution company has a long relation than you might imagine.

        The Distribution company was purchased with a loan from CBN at the rate of N180/$ but are paying at the rate of N360/$. This means DisCos are paying more than double to the Central Bank of Nigeria.

         

        Every meagre bill you pay, a wholesome accumulation of it could be billions of Naira. Mind you, the DisCos are not the only one with access to this billion.

         

        They pay a certain percentage to CBN, another to NBET (Nigerian Bulk Electricity Trader. They are the financial intermediary between the Generation Companies and the Distribution Companies), they also have a minimum remittance they give to NERC( Nigerian Electricity Regulatory Commission).

        So, the DisCos do a lot with your money and I would want us to take it easy with them by most shifting blames on them whenever things go wrong in the power sector.

         

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