NERC gives condition for payment of REA’s surpluses for 2019 fiscal year

The Nigerian Electricity Regulatory Commission (NERC) on Friday, said it has fully paid all amounts due to the Rural Electrification Agency (REA) but stressed that payment of the agency’s surpluses would be made upon completion of the ongoing audit of the Commission’s accounts for the year ended December 31, 2019.

The House of Representatives committee on Power had on Wednesday threatened not  to approve the Commission’s 2021 proposed budget if it fails to pay all outstanding debts owed to the Rural Electrification Agency (REA)

Managing Director REA, Ahmad Salhijo had told the Committee, Chairman,  Hon. Magaji Da’u Aliyu from Jigawa State, that one of the impediments faced by his agency in the discharge of its duties is the inability to get the operating surpluses from NERC turned over to it as expected under the law.

But in its reaction, the Commission in a statement issued and signed management said it has fully paid all amounts due to the agency.

ALSO READ: Conference of Speakers gets new chairman, executive members

“The Commission hereby notifies all stakeholders and the general public that it has fully paid all amounts due to the Rural Electrification Agency (REA) in compliance with the provisions of the Electric Power Sector Reform Act.

“Any surpluses that may be due for the 2019 fiscal year would be paid to the REA upon completion of the ongoing audit of the Commission’s accounts for the year ended December 31, 2019,” it said.

Also, it denies awarding an N2bn contract sum to any company for the renovation or furnishing of its headquarters in Abuja.

“The Commission further clarifies that no contracts in the sum of NGN2bn (Two Billion Naira) have been awarded to any person or company for the purpose of renovating and/or furnishing of the head office complex in Abuja.

” The ONLY capital project included in the 2021 budgetary appropriation is a request for the provision of a sum of N294,064,276 for the partitioning and furnishing of the head office complex in Abuja,” the statement partly read.

It stated that the project was being implemented in phases in alignment with the projected cash flows of the Commission and in accordance with the approval granted by the Federal Executive Council at its meeting of July 11, 2018.

“The above clarification is provided to the general public for the purpose of communicating the facts on the subject matter to all stakeholders,” it added.

NIGERIAN TRIBUNE