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Reps Summon 11 Discos Over N2.6 Trillion Debt to FG

Phinadon Mag

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The House of Representatives Public Accounts Committee has summoned 11 electricity Distribution Companies (Discos) to answer questions regarding an outstanding debt of N2.6 trillion owed to the federation account. The summons follows a review of the 2021 Auditor General’s report and an investigative hearing led by Representative Bamidele Salam.

During the hearing, Mr. Johnson Akinnawo, Managing Director of the Nigerian Bulk Electricity Trading Company (NBET) PLC, presented documents revealing the extent of the Discos’ liabilities. As of September 30, 2020, the collective debt stood at N2.6 trillion, broken down as follows:

  • Abuja Electricity Distribution Company (AEDC) – N330.4 billion
  • Eko Electricity Distribution Company – N231 billion
  • Benin Electricity Distribution Company – N233.2 billion
  • Enugu Electricity Distribution Company – N258.3 billion
  • Ibadan Electricity Distribution Company – N325.7 billion
  • Ikeja Electricity Distribution Company – N310 billion
  • Jos Electricity Distribution Company – N161.7 billion
  • Kaduna Electricity Distribution Company – N277.7 billion
  • Kano Electricity Distribution Company – N211.7 billion
  • Port Harcourt Electricity Distribution Company – N239.7 billion
  • Yola Electricity Distribution Company – N107.4 billion

The Auditor General’s 2021 report highlighted several irregularities in the power sector, including:

  • N30 billion in uncollected debt by NBET from market operators.
  • A N549 million shortfall in NBET’s 1% income from institutional charges.
  • N100 billion paid by NBET to Generation Companies (GENCOs) for electricity not delivered to the national grid.
  • N26 billion owed to Nigeria by two foreign firms for power exported to Togo, Benin, and Niger.
  • A N166 billion in under-remittance by Discos, below the Nigerian Electricity Regulatory Commission’s (NERC) minimum threshold.
  • N2.7 billion in unpaid invoices by the 11 Discos.

A motion was moved by Yahya Kusada and seconded by Billy Osawaru, compelling the 11 Discos to appear before the Committee to explain the reasons behind their persistent failure to settle their financial obligations and to outline plans for repayment.

The Committee has also resolved to invite other market operators and participants to address concerns raised in the Auditor General’s report. The date for the appearances will be communicated to the affected parties soon.

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Entertainment

Burna Boy makes history as the first male artist to reach No. 1 on Spotify’s Global Music Video Chart.

Ikechukwu Emmanuel

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Nigerian superstar Damini Ogulu, famously known as Burna Boy, has once again etched his name in history, this time by becoming the first male artist to claim the coveted #1 spot on Spotify’s newly launched Global Music Video Chart. This monumental achievement comes courtesy of his electrifying World Cup anthem with pop icon Shakira, ‘Dai Dai.’

‘Dai Dai’ has proven to be an unstoppable force, not only conquering the Spotify chart but also making significant waves on the Billboard Hot 100, where it recently soared to a new peak of #13. Industry experts are already predicting a top 10 entry next week, fueled by the highly anticipated World Cup Final Halftime Show performance by Burna Boy and Shakira this coming Sunday.
The song’s dominance extends far beyond these charts. ‘Dai Dai’ remains the most-streamed music video of 2026 on YouTube, boasting an astonishing half a billion views. It has also reached the pinnacle of the Apple Music Global Songs Charts, solidifying its status as a global phenomenon.

Burna Boy’s incredible success with ‘Dai Dai’ has further cemented his position as a titan of the music industry. He has extended his record as the African artist with the most monthly listeners in Spotify’s history, surpassing an astounding 53 million. Not stopping there, he has also set a new benchmark on YouTube Music, becoming the African artist with the most monthly listeners, exceeding 600 million.
These extraordinary achievements are a testament to Burna Boy’s undeniable talent, global appeal, and the ever-growing influence of Afrobeats on the international music scene. He continues to break barriers and inspire millions, proving that music truly knows no boundaries.

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Entertainment

Cardi B Addresses Maduka Okoye Speculation: “I’m Really Hip Hop’s Britney Spears”.

Ikechukwu Emmanuel

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In the relentless glare of public scrutiny, Grammy-winning artist Cardi B has once again found herself at the center of swirling rumors, this time concerning her burgeoning friendship with Super Eagles goalkeeper Maduka Okoye. Recent public appearances, including a dinner in Venice, ignited speculation about a potential romance, prompting Cardi B to candidly address the incessant public interest in her personal life.

The rapper, known for her unfiltered honesty, voiced her frustration in a widely circulated video, lamenting the disproportionate attention her activities receive compared to those of her peers. She highlighted a perceived double standard, where ordinary facets of her life become subjects of intense public debate, while similar situations involving other celebrities garner little to no interest.

“No cap, I’m really hip hop’s Britney Spears,” Cardi B declared, drawing a parallel to the pop icon who has famously navigated intense media scrutiny throughout her career. She continued, “I got all the tea on these celebrities. I know who’s with who and what’s doing what. But guess what? Nobody reports about it because nobody cares.”

Her exasperation was palpable as she added, “But when it comes to me, I can’t even do anything without people talking about it. This is crazy. You’ve got to take the good with the bad. It is what it is. People pay for this type of talk.”

Cardi B’s comments arrive amidst a crescendo of speculation surrounding her relationship with Okoye. The pair have been observed together on multiple occasions, notably during Paris Fashion Week and their recent rendezvous in Venice, fueling the ever-present social media buzz. Despite the widespread conjecture, neither Cardi B nor Okoye has publicly confirmed any romantic involvement, leaving the nature of their connection open to continued public interpretation and discussion.

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Fabian Ruiz Targets 2026 Ballon d’Or After Incredible Trophy-Laden Season.

Ikechukwu Emmanuel

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In a sport often dominated by household names, Paris Saint-Germain’s midfield maestro, Fabian Ruiz, has boldly declared his ambition to claim the coveted Ballon d’Or in 2026. The Spain international, fresh off a truly remarkable season, has articulated a desire that resonates with every professional footballer: to be recognized as the world’s best.

Ruiz, at 30 years old, has enjoyed a sensational campaign that has seen him achieve the pinnacle of both club and international football. Lifting the Champions League trophy with PSG and, even more significantly, securing the World Cup with Spain, has propelled him into conversations previously reserved for a select few. His performances throughout these triumphs have been nothing short of exceptional, showcasing a blend of tactical intelligence, technical prowess, and an uncanny ability to dictate the tempo of a game.

The World Cup, in particular, served as a global stage for Ruiz to demonstrate his undeniable talent. As the tournament progressed, his name began to circulate with increasing frequency among pundits and fans alike as a genuine contender for individual accolades. This growing recognition is a testament to his consistent high-level play and his ability to perform under immense pressure.

When questioned about his aspirations, Ruiz’s response, as reported by Marca, was both humble and resolute: “Who wouldn’t want to win a Ballon d’Or? I’m happy with the season I have had, winning the Champions League and the World Cup. If I’m in the running, it will be an honour.” This statement encapsulates the sentiment of a player who appreciates his current successes while simultaneously striving for even greater heights.

Fabian Ruiz’s declaration injects an exciting narrative into the footballing world. As he continues to perform at an elite level, all eyes will be on whether this gifted midfielder can transform his audacious ambition into reality and etch his name into the annals of football history as a Ballon d’Or winner.

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