Power distribution companies (DisCos) on the platform of Association of Nigerian Electricity Distributors (ANED), yesterday threw its weight behind plans by the Federal Government to restructure over N1 trillion being accumulated debt owed by the power sector investors, The Sun reports.
Speaking at a press briefing in Abuja Wednesday, ANED spokesman Sunday Oduntan, said the frightening debt only reflected in the books of Discos, a development that paints them as chronic debtors unworthy of any form of partnership with local and offshore banks.
He said: “The recent plan by the government to restructure the N1 trillion shortfall is a vindication of what ANED has been saying. Discos carry the deficit of the entire industry in our books. Now, let everyone carry their own cross.”