The Public Accounts Committee of the Home of Representatives has adopted a decision, approving reliefs and a 10-year debt restructuring plan for the Kano, Jos, and Ikeja Electrical energy Distribution Firms (DisCos).
This covers accrued curiosity on debt from 2015 to September 2025 amounting to N128,575,190,740.54, in addition to historic money owed totaling N120,061,898,737, bringing the mixed excellent liabilities to N248,637,089,278.83.
The committee’s decision was fallout of the adoption of a technical subcommittee report, forming a part of the 2021 Auditor-Normal of the Federation Report on the rising indebtedness of 11 DisCos, as escalated by the Nigeria Bulk Electrical energy Buying and selling Firm Plc (NBET).
Chairman of the technical subcommittee, Hon. Mark Obetta, mentioned the advice types a part of legislative efforts to stabilise the electrical energy market and deal with legacy liabilities affecting the sector’s {financial} sustainability.
The report, which reviewed the {financial} obligations of 11 DisCos, confirmed that their cumulative indebtedness rose from one trillion naira at December 31, 2024 to N1.3 trillion in September 25, 2025, together with the principal and curiosity.
The committee mentioned the investigation was geared toward verifying the Auditor-Normal’s claims, establishing the present debt place, and figuring out the explanations for the persistent failure of DisCos to fulfill their obligations.