Nigeria, April 17 -- The House of Representatives Public Accounts Committee (PAC) has endorsed a package of financial relief measures, including a 10-year debt restructuring plan, for the Kano, Jos and Ikeja Electricity Distribution Companies (DisCos)

The decision followed the adoption of a report by a technical subcommittee reviewing findings in the 2021 Auditor-General for the Federation's report, which flagged rising indebtedness across electricity distribution companies, as escalated by the Nigeria Bulk Electricity Trading Company (NBET).

Under the approved framework, accrued interest on debts owed by the three DisCos from 2015 to September 2025, put at N128.58 billion, will be waived, while their historical liabilities, estimated a...