The moribund Ajaokuta Steel Company Limited risks being disconnected from the power grid over its failure to pay the N1.27bn electricity debt it incurred in the first three months of the year.
Described as a special customer, the Nigerian Electricity Regulatory Commission disclosed that Ajaokuta Steel Company and the host community did not make any payment towards the N1.27bn (Nigerian Bulk Electricity Trading Plc) and N0.09bn (Market Operator) invoices received in January, February and March 2024.
The regulator expressed displeasure that the trend of non-payment by the steel company had continued for a long time. It added that the Federal Government had been urged to intervene to avoid total disconnection from the grid.
“This continues a longstanding trend of non-payment by this customer and the commission has communicated the need for intervention on this issue to the relevant FGN authorities.
“A continuation of the non-payment may trigger total disconnection from the grid,” NERC threatened.
In January, the TCN disconnected ASCL from the national grid as the moribund company failed to clear a debt of N33bn owed to the NBET and service providers.
