The Niger Delta Power Holding Company (NDPHC) has disclosed that the Central Bank of Nigeria (CBN), the Nigerian Bulk Electricity Trading Plc (NBET), and the Nigerian Electricity Liability Management Company collectively owe the Federal Government a total of N190 billion for electricity supply.
Chiedu Ugbo, the Managing Director and Chief Executive Officer of NDPHC, revealed this information during a media briefing in Lagos on Monday.
The N190 billion debt, accumulated from 2015 to May 2023, has raised concerns about the financial obligations of government agencies in the power sector.
Ugbo emphasized that the substantial portion of the debt is attributed to NBET, though the exact amount was not specified.
He highlighted the adverse impact of this indebtedness on NDPHC, affecting its revenue and financial stability since the declaration of the Transitional Electricity Market in 2015.
