The minister of power, Mr Chinedu Nebo, has disclosed that the Nigeria Electricity Liability Management Company (NELMCO) Limited is indebted to the tune of N700 billion to N1 trillion.
The minister who disclosed this to the House of Representatives Committee on Power during the 2014 budget defence session of the ministry also stated that Nigeria has a metering gap of N2.7 million which is frustrating electricity companies from recovering their monies since they cannot make charges on electricity consumed.
“Metering is a wahala for us”, he stated, while adding, “We are talking about billions in debt owed to even local manufacturers. NERC (Nigerian Electricity Regulatory Commission) is working hard with regards to that. On my own part, I have given approval that some people be sent to China to investigate, if there are 30,000 meters that have already been manufactured, waiting to be shipped down to Nigeria for that purpose”.
Nebo assured the committee that 10,000 megawatts of electricity can be achieved before the end of the year would if the federal government allocates more money to the ministry.
He stated that the areas of priority for the ministry in the current year include the completion of 215MW Kaduna Power Project, completion of bankable feasibility studies on 17 small and medium hydropower sites and coal-fired power plants at Enugu/Gombe axis.