NERC denies N2 billion renovation contract, owing REA

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    Nigerian Electricity Regulatory Commission, NERC, says 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.

    The commission which regulates the domestic electric power industry and market operations also denied spending N2.0 billion on renovation of its head office complex in Abuja.

    In a statement reacting reports of withholding money meant for rural electrification, NERC declared that 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.

    “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 NGN294,064,276 for the partitioning and furnishing of the head office complex in Abuja. This project is 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 stated.

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