Powerup Bemoans Fgs Failure To Activate Consumer Assistance Fund

Foreign customers debt grows by 8.84m

With outstanding FederalGovernment subsidies to the Nigerian Electricity Supply Industry NESI reaching N1.92 trillion last year and distribution companies DisCos struggling to improve revenue collection, PowerUp Nigeria has expressed concern about Federal Governments failure to activate the Power Consumer Assistance Fund PCAF by the first quarter of 2025, calling it a major setback in resolving Nigerias electricity liquidity crisis.

Two days ago, the Nigerian Electricity Regulatory Commission NERC, in its Q4 2024 electricity sector report, revealed that DisCos remitted only N336.6 billion out of the total N832.6 billion invoice from the Nigerian Bulk Electricity Trading Company NBET. The DisCos Remittance Obligation DRO for the quarter stood at N360.9 billion.

In a note to Vanguard, the Executive Director, PowerUp Nigeria, Adetayo Adegbemle explained that the continuing delay in activating PCAF puts the sector deeper into financial crisis.