NERC Says Most Electricity Distribution Companies Are Technically Bankrupt

The Federal Government admitted that most of the country's Electricity Distribution Companies, DISCOs, are technically insolvent and unable to pay invoices sent to them from the electricity market and invest in network expansion projects.

The Chairman of the Nigeria Electricity Regulatory Commission, NERC, Sanusi Garba, says this poor financial state of DISCOs makes it difficult for them to raise the needed capital to invest.

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