With over 40 percent of their revenue reported as expenses and huge related party transactions, Nigeria’s 11 electricity distribution companies (DisCos) may be turning a key rule of business – that you only make money after serving your customers – on its head. For example, Ikeja Electric reported a financing cost of N20 billion, related… for further reading, click on https://businessday.ng/lead-story/article/nigerias-discos-blighted-by-high-overheads-related-party-deals/
SOURCE: BusinessDay Newspaper 23 Jul,2020.