Buhari says FG at this point can't bear power tax deficits any more - NenyKo

President Muhammadu Buhari has said it is not, at this point supportable for the Federal Government to endure the tax deficiencies in the power sector.

Buhari said this on Thursday, Nov 26, at the introduction of Eko Electricity Distribution Company’s Supervisory Control and Data Acquisition-Distribution (SCADA) Management System Center in Lagos.

Buhari, spoke to by the Minister of Power, Mr Sale Mamman, said the SCADA framework would enable EKEDC to screen and react all the more rapidly to flaws and lessen blackout spans, in this way improving the nature of administration to clients.

He added that his system stays focused on tending to the liquidity challenges unfavorably influencing the force area’s feasibility.

“We have noted with grave concern the expanded monetary weight on the Federal Government occasioned by the levy deficiencies in the area which are not, at this point manageable,” he said.

He said the Central Bank of Nigeria’s Power Assistance Fund focused at supporting tax shortages could not, at this point be broadened and should be eliminated to advance the area’s monetary freedom.

Buhari stated, “We are additionally mindful that these duty deficits sit on Discos’ books and impede their capacity to raise capital and contribute.

“The Federal Government is working diligently to address these monetary and financial difficulties through different projects, for example, the National Mass Metering Program, the Siemens AG Power Project and the World Bank Distribution Sector Recovery Program, and so forth”

He focused on the need to guarantee an arrangement of limit and fascination of ventures over the age, transmission and circulation parts of the force area’s worth chain.

The President said the Federal Government, through the Ministry of Power, had introduced a few activities to address difficulties of the basic force framework in the nation.