The Nigerian Electricity Regulatory Commission (NERC) has revealed that Nigeria’s 11 electricity distribution companies (DisCos) owe a combined N2.75 trillion in liabilities, including taxes, trade payables, and other debts.
This is according to a recent regulatory order signed by NERC Vice Chairman Musiliu Oseni and Commissioner for Legal, Licensing & Compliance, Dafe Akpeneye, on July 25, 2025, with data reflecting the 2024 fiscal year.
The report also indicates that despite the high debt burden, the DisCos collectively hold N3.61 trillion in assets, presenting a potential opportunity for restructuring and financial recovery.
NERC issued the order to instruct DisCos to demarcate their assets along state boundaries, in line with the Electricity Act 2023, which gives states more regulatory power over electricity markets within their jurisdictions.
A breakdown of the report shows the following financial standings for selected DisCos:
- Abuja Electricity Distribution Company (AEDC):
Liabilities – N357.57 billion
Assets – N488.93 billion - Benin Electricity Distribution Company (BEDC):
Liabilities – N243.17 billion
Assets – N487.86 billion - Enugu Electricity Distribution Company (EEDC):
Liabilities – N278.65 billion
Assets – N88.73 billion - Eko Electricity Distribution Company (EKEDC):
Liabilities – N254.96 billion
Assets – N303.44 billion - Ibadan Electricity Distribution Company (IBEDC):
Liabilities – N301.13 billion
Assets – N543.23 billion
The order forms part of NERC’s broader efforts to improve transparency, regulatory efficiency, and state-level oversight in Nigeria’s power sector. By aligning asset structures with state jurisdictions, NERC aims to enhance the ability of state electricity regulatory authorities to carry out effective monitoring and compliance.
