SSAEAC says CBN remittance policy can pull down power sector market
Joy Obakeye
The Senior Staff Association of Electricity and Allied Companies (SSAEAC) has called on the Minister of Power, Sale Mamman, to intervene in the the recent minimum remittance orders issued to Discos.
This was disclosed in a statement by the Deputy General Secretary of SSAEAC, Comrade Nnamdi Ajibo, said,”the recent Minimum Remittance Orders issued to Discos which required Discos to pay 100% of MO Invoice and minimum percentage of NBET bill, without taking salary of staff that collect the revenue into consideration, is a major oversight that can trigger a domino effect capable of pulling down the sector‘s market.
Recall that in August the Central Bank of Nigeria (CBN) directed banks to run the collection accounts of electricity distribution companies (DisCos) in Nigeria.
He further explained that, “the reason is that most DisCos are not paying the paltry staff salaries as and when due or the full amounts.
The potential negative impact of this situation is better imagined because a hungry worker will not collect money and return it or be healthy in mind to do his best. “
SSAEAC urged the Minister to consider the above recommendations for implementation as sensible and capable of arresting the sector market from collapse or instability.
“Nigerian Electricity Regulatory Commission ( NERC) should verify sector workers’ salaries with a view guaranteeing timely and full payment by first-line charge principle.”
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“NERC should consider adjusting the minimum remittance percentages to accommodate the need for timely and full payment of salaries.
“It should consider setting standard emoluments for sector workers to elicit higher productivity in the whole sector. Presently ancillary service providers (NERC and NBET) earn more than the first-line workers/operators/risk-takers in GenCos, TCN and DisCos.”
