“Power Market Operators Owe NERC N3billion” – Amadi

Chairman of the Nigerian Electricity Regulatory Commission, NERC, Sam Amadi, has disiclosed that those in the power market owe the commission N3billion.

Amadi said the debt was due to revenue shortfalls and other glitches confronting operators in the NESI, but noted that the commission was not in a haste to recover the fund.

The NERC disclosed this on Wednesday, November 18, in Abuja at a press briefing organized by the commission to refute reports alleging that NERC board had plans to share N2.7bn as severance benefit when they retire from service at the agency.

He said, “Today the market owes us N3bn. However, everybody in this market is owed money including NERC and this is because of the obvious things like shortfall, issues around revenue collection and all that.

“But we don’t want to be upfront asking to be paid because as a regulator we want to make sure that we fix some of those problems where the revenue shortfalls are coming from. So the fact is that there is revenue shortfall everywhere.”

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