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