FG pays N200bn to offset Gencos’ gas bill

Forums Daily News FG pays N200bn to offset Gencos’ gas bill

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    The Federal Government has in the past two to three days paid over N200bn for power supply in Nigeria, the Group Managing Director, Nigerian National Petroleum Corporation, Mele Kyari, declared on Wednesday.

    Also, the Association of Nigerian Electricity Distributors, the umbrella body for Discos, has said the proposed two-month free electricity for customers announced by power distribution companies recently will cost a total of about N120bn.

    Kyari spoke on the N200bn payment at the Abuja headquarters of the Federal Ministry of Power after a meeting with the Minister of Power, Sale Mamman; Managing Director, Transmission Company of Nigeria, Usman Mohammed; and Managing Director, Niger Delta Power Holding Company, Chiedu Ugbo; among others.

    The NNPC boss stated that the payment would adequately help in settling the indebtedness of power generation firms to gas companies.

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