Nigeria: Yola Power Company Cries for Bailout - As TCN Withdraws Lifeline

26 November 2012

The Yola Electricity Distribution Company (YEDC) faces imminent collapse due to huge financial constraints, Daily Trust has learnt. YEDC, which is one of the 10 distribution companies drawn from the unbundled Power Holding Company of Nigeria (PHCN) is so broke that it is now difficult for it to pay its workers.

For months, it has not been able to remit its dues to the Transmission Company of Nigeria (TCN) which is the market operator. Instead, the TCN has been giving it a lifeline to augment shortfalls in revenue to run its operations. But that lifeline has been withdrawn now, Daily Trust check revealed.

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