Fashola refutes Egbin Power MD’s claims regarding FG’s debts

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Speaking at a quarterly meeting of power sector stakeholders in Lagos on Monday, the Minister of Power, Works and Housing, Babatunde Raji Fashola, accused the Managing Director/Chief Executive Officer of Egbin Power; Mr Dallas Peavey of acting against the interest of Nigeria when he told some visiting United States Senators recently that the Federal Government is owing his company N125 billion, Tribune reports.

Fashola said that Mr Peavey did not tell his visitors how that N125 billion was made up; “He did not also tell them that MDA debts owed to Discos had been verified and instead of claims in excess of N90 billion submitted as owed by the Federal Government, only about N27billion has been established by verification,” he said.

“He did not tell his visitors that Government has approved a payment assurance guarantee for all power produced to the grid and that some payments have been made and others are being processed as reported at the Kano meeting and the Abuja meeting in July 2017…He also did not tell them that the Ministry of Finance has announced a programme to issue promissory notes for inherited debts subject to Parliamentary approval,” he added.