Prof Chinedu Nebo
By Chineme Okafor
The ministry of power has disclosed that the total annual earnings from the sectors three major value chains of generation, transmission and distribution for the year 2012 was about N189 billion.
This was contained in a status report of activities in the sector for the period, which was presented to members of the Senate Committee on Power and Steel by the Permanent Secretary in the ministry, Mr. Godknows Igali, in Abuja.
However, Igali did not provide an in-depth explanation on disbursement and beneficiaries of the earning.
The committee had last Thursday paid an oversight visit to the ministry where it deliberated on the challenges of the power sector in the phase of obvious paucity of funds to undertake essential projects within the sector as well as the federal government’s zero budget for operations of successor companies of the Power Holding Company of Nigeria (PHCN) in the 2013 appropriation Act.
Igali, in the presentation, stated that the sector’s earnings for 2012 was N189 billion while a total of N75 billion was provided by the government as statutory financial provisions for operations in the sector for the said year.
He noted that out of the total statutory funding provision, about N7 billion was provided for the various successors PHCN generation companies while N24 billion was given to the distribution firms.
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