The Port Harcourt Electricity Distribution Company Plc has expressed concern about a debt exceeding N200 billion owed to the firm by Ministries, Departments, and Agencies of state governments within its operational area.
Additionally, the company highlighted that the Afam community in Oyigbo Local Government Area of Rivers State alone owes them a substantial amount of N31.5 billion.
The Managing Director/Chief Executive Officer of PHED, Dr. Benson Uwheru, revealed these financial challenges during a media briefing held as part of the company’s 10th-anniversary celebrations in Port Harcourt on Tuesday.
Uwheru further mentioned that PHED is among the eleven distribution companies established following the Federal Government’s restructuring of the power sector in 2013.
In characterizing the company’s 10th anniversary as a significant milestone marking a new phase and celebrating the privatization of Nigeria’s power sector, he highlighted both the opportunities and numerous challenges encountered by PHED.
The Managing Director noted that the company has faced a myriad of obstacles while also experiencing notable growth, achieving a 60 percent increase in revenue. Initially standing at a monthly revenue of N4.6 billion, PHED now generates around N7 billion monthly.
He commended the dedication of the staff, considering them as the company’s most valuable assets.
The PHED MD said, “I must say that the last 10 years has been replete with hurdles and challenges. The transition came with legacy issues coming from the federal government controlled Nigeria Electric Power Authority as well as the Power Holding Company of Nigeria.”
Regarding the challenges faced, he expressed concerns about vandalism and the reluctance of certain electricity consumers to settle their bills, citing the Afam community in Oyigbo Local Government Area of Rivers State as an example owing a significant debt of N31.5 billion to the company.
He stated, “Today N31.5 billion and still counting has been accumulated in a community called Afam in Rivers State, a community that uses power and they don’t pay for it,” adding that there are a couple of communities in Bayelsa and Akwa Ibom State that use power, but have refused to pay for it.
“Now when it gets to the MDA’s, the debt of the MDAs is over N200 billion in arrears. I will not mention any specific MDAs because they are our customers. My philosophy of leadership has always been dialogue and strategic engagement.
“I must thank MDAs also that are paying for their bills, including the state governments, particularly the Rivers State Government that continues to show exemplary leadership by paying for all their MDA’s that use power from the Disco,” he said.
