Business
TCN Exposes AEDC’s Failure
The Transmission Company of Nigeria (TCN) has accused Abuja Electricity Distribution Company (AEDC) of putting its customers in darkness by rejecting about 40 per cent of electricity wheeled to the company.
TCN said it had continued to deliver electricity to TCN’s substations in the Federal Capital Territory (FCT), but AEDC has consistently rejected part of the power.
TCN’s General Manager, Transmission Services, Mr Sulaiman Mahmud made the accusation in an interview with journalists on Monday in Abuja.
Mahmud said that complaints of inadequate power supply by consumers in the FCT and AEDC’s franchise areas was not a challenge of transmission.
He said AEDC was not fully taking delivery of the electricity transmitted in its sub-stations.
Meanwhile, consumers in FCT satellite towns of Kubwa, Nyanya, Karu, Karshi, Orozo, Lugbe among others have been grappling with the challenge of epileptic power supply in the last two months.
The challenges ranged from load-shedding, limited supply, non-supply for days, outrageous estimated billings, and overloaded transformers among others.
“At the Karu transmission substation with an installed capacity of 2×60 MVA, basically, what we are experiencing is load rejection from AEDC, because we have 96 MW from the two transformers.
“Incidentally, from what we are recording for the past one week, you see that the transformers are just carrying 31 MW, sometimes up to 48MW in some instances,’’ Mahmud said.
He said AEDC was only taking between 35MW to 50MW on the average, out of 96 MW from the Karu substation.
“So the complain they are raising that we don’t have enough capacity to supply them, let them pick the one we have, that is our argument with them.
“It is surprising that you have this capacity and people in Karu, Jikwoyi, Karshi ,Kurudu ,and Orozo, don’t get supply up to two hours a day.
“We have a situation where we can supply them power but they refuse to take the power.
“We have 100 per cent of power to give and they are taking 60 per cent and rejecting 40 per cent.
“In Kubwa substation, AEDC is also taking 60 per cent and rejecting 40 per cent.
“If they say they don’t want to take the power and deny their customers supply, there is nothing we can do.
“Even this issue has been escalated and the management of TCN had raised the issue before the Nigerian Electricity Regulatory Commission (NERC).’’
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
