AEDC commends President Buhari’s approval to pay debts owed by MDAs

Shareholders in the Abuja Electricity Distribution Company have commended President Muhammadu Buhari’s approval for the payment of outstanding electricity bills owed by Federal Ministries, Departments and Agencies.
The shareholders made the commendation in a statement by Ambassador Shehu Malami, Chairman Board of Directors of AEDC in Abuja on Friday.
Electricity Distribution Companies are being owed over N100billion by MDAs. This had contributed to the market shortfall being experienced in the sector.
President Buhari had in his 2017 budget speech assessed the power sector value chain, which is experiencing major funding issues.
The president said the CBN and other development finance institutions had intervened and that more capital was needed in the sector.
He said government would resolve the problems of liquidity in the sector, noting that government had made provisions in the 2017 budget to clear the MDAs’ outstanding electricity bills.
Malami said the action further affirms the President’s unwavering commitment to revamping the Nigerian power sector.
He said the move of the president was a major step toward ensuring the growth and development of the nation’s economy.
He added that the Presidential approval of the payment showed in unmistakable terms, the depth of Buhari’s appreciation of the challenges facing the power sector.
Malami said the decision of the president was a testimony to his avowed commitment to the recovery of the economy.
The AEDC shareholders also commended the Minister of Power, Works and Housing, Babatunde Fashola, for providing leadership to the power sector since his appointment.
The shareholders were optimistic that given the integrity of the President, the outstanding electricity bills of the MDAs would be settled, once the National Assembly assented to the proposal.
The stakeholders expressed confidence that the National Assembly would give speedy assent to the provision made by the President for the clearance of the outstanding electricity bills of the MDAs.
The shareholders appealed for the support of other relevant stakeholders, especially those in the civil service, toward the resolution of the liquidity challenge facing the power sector.