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September 27, 2019

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ExxonMobil

ExxonMobil staff

By Chris Ochayi

The Association of Nigerian Electricity Distributors, ANED, described reports credited to PriceWaterhouse Coopers, PwC, that no DISCO has paid any tax to the Federal Government since the privatisation of power assets in 2013 as misleading, incorrect and lacked in facts.

ExxonMobil

ExxonMobil staff

Noting the claim was not supported by facts in a statement yesterday in Abuja by ANED’s Executive Director, Research and Advocacy; Mr Sunday Oduntan said the DISCOs diligently pay all necessary taxes that apply to their operations.

According to the statement; “The Association of Nigerian Electricity Distributors (ANED), with this Press Statement, seeks to address a recent comment attributed to Dr Andrew Nevin, Chief Economist of PriceWaterhouse Coopers, PwC, on Wednesday, September 25, 2019.

“Dr Nevin, at a  power sector roundtable organised by Mainstream Energy Solutions Limited was quoted to have declared that no Distribution Company (DISCO) in Nigeria has paid any tax to the Federal Government since 2013 when they were privatized, because they have been “on a loss-making track” since then.

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“While acknowledging Dr Nevin’s effort to highlight the challenges of the sector in his presentation, thus, fostering a dialogue that is critical for the resolution of same, we hereby, unequivocally, state that this claim relating to Discos not paying FG taxes is misleading, incorrect and not supported by the facts.

“As responsible corporate citizens, all of our member DISCOs take their tax obligations to the federal and state governments, as applicable, seriously. As a result, the DISCOs diligently pay all necessary taxes that apply to their operations.

“These taxes include the minimum Company Income Tax, CIT, Withholding Tax, WHT, and Value Added Tax, VAT.

“We will like to encourage all parties interested in the growth and success of the Nigerian Electricity Supply Industry to constantly diligently verify their information, to avoid creating more challenges than that which already exists in the sector.”

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