TRANSMISSION COMPANY OF NIGERIA NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT ANNUAL REPORTS AND ACCOUNTS FOR THE PERIOD ENDED 31sT DECEMBER, 2018. TRANSMISSION COMPANY OF NIGERIA NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT CONTENTS Page Content 1 Project Management Team 2 Project Management Report 3-5 Report of Auditors 6-7 Statement of Accounting Policies 8 Balance Sheet 9 Receipt and Payment Account 10 Cash flow Statements 11 Notes to the Financial Statements 12-14 Special Account Reconciliation Statement 15-16 Fixed Asset Schedule 17-19 Schedule of IDA Receipts 20-21 TRANSMISSION COMPANY OF NIGERIA NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT PROJECT MANAGEMENT TEAM ENGR. ISYAKU DAHIRU Head PMU/Project Manager ENGR. EBENEZER FAPOHUNDA Coordinator (Sub- Station) ENGR. BUKAR HASSAN YERIMA Coordinator (Lines) ENGR. EMMANUEL ABUTU Procurement Officer ENGR. SADIQ SALIHU YARI Coordinator (SCADA) MR JOHN CURTIS Coordinator (ERSU) MR. TOKI ADEBISI OLUFEMI OLAYIWOLA Project Accountant BANKERS Central Bank of Nigeria Standard Chartered Bank PROJECT AUDITORS HARUNA YAHAYA & CO. (Chartered Accountants) Ahmadu Bello House, Shiroro Road P.0 Box 2994, Minna, Niger State Tel: 08078490826, 08078490827 e-mail: infohq@harunayahaya.org 2 TRANSMISSION COMPANY OF NIGERIA NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31sT DECEMBER, 2018 PROJECT MANAGEMENT REPORT The Project Management submit their report together with the audited financial statements for the year ended 31s December, 2018 which discloses the state of affairs of the project. 1. Incorporation and Address Nigeria Electricity and Gas Improvement Project ("the Company") a Project management Unit (PMU) was approved in November 2009 and included allocation for a series of IDA Guarantees to support Gas Supply Agreements (GSAs) as well as a Specific Investment Loan (SIL) for strengthening the national grid. The series of guarantees were designed to support Gas Supply and Aggregation Agreements (GSAAs) and Gas Transportation Agreements (GTAs) in Nigeria. The address of its registered office is: Nigeria Electricity and Gas Improvement Project No 10 Kunene Close, Off Bobo Street, Off Gana Street Maitama, Abuja 2. Brief on NEGIP NEGIP a PMU under the supervision of the Transmission Company of Nigeria (TCN) and Ministry of Power. The Federal Ministry of Finance manages and warehouses the credit loan obtained by the Federal Government of Nigeria for the support of Gas Supply and Aggregation Agreements (GSAAs) and Gas Transportation Agreements (GTAs) in Nigeria. The credit became effective on 21st July, 2010. NEGIP Guarantee's component was US$400 million and the SIL was US$200 million. In May 2012, the World Bank approved an additional financing for NEGIP increasing the Guarantee's program by US$200 million and the SIL by US$100 million, as well as extending the closing date from December 31, 2014 to December 31, 2018, with an investment credit of US$300 million in transmission and distribution. The investment is aimed at addressing major rehabilitation and reinforcement of Transmission and Distribution Substations in some selected sites in the six (6) Transmission regions and in all of the eleven (11) Electricity Distribution Companies. The project also provides Partial Risk Guarantee (PRG) support for gas suppliers to Power Generating Companies for the PHCN and the NDPHC/NIPP power plants up to the tune of US$600 million. 3 3. Financial Outlook 2018 2017 Percentage Increase/(Dec rease) % Bank Balances 4,994,990,848 6,034,650,526 -17.23% Project Development Expenditure: Fixed Assets 169,524,440 141,140,726 20.11% Completed Projects 30,584,225,016 25,375,945,482 20.52% Goods and Works In Progress 15,786,121,813 13,741,864,514 14.88% Consultancy Services 5,026,681,570 3,590,241,423 40.01% Capacity Building and Training 1,838,164,301 1,838,164,301 Operating Cost 2,023,107,110 1,724,349,240 17.33% TOTAL ASSETS 60,422,815,099 52,446,356,212 15.21% FINANCED BY: Exchange Gain Equalization 16,720,000 16,720,000 0.00% IDA Credit Loan Account 60,406,095,099 52,429,636,212 15.21% TOTAL LIABILITIES 60,422,815,099 52,446,356,212 15.21% RECEIPTS/INCOME IDA Credit Loan Account 7,976,458,887 20,144,971,466 -60.40% Other Income 32,557,816 7,213,896 351.32% TOTAL RECEIPTS 8,009,016,703 20,152,185,362 -60.26% PAYMENTS Project Development Expenditure: Fixed Assets 28,383,714 4,675,000 507.14% Completed Project 2,208,279,534 8,391,524,982 -73.68% Goods and Works 5,044,257,299 7,164,206,568 -29.59% Consultancy Services 1,436,440,147 2,074,834,604 -30.77% Capacity Building and Training - 45,798,093 -100.00% Operating Cost 331,315,686 531,644,691 -37.68% TOTAL PAYMENTS 9,048,676,380 18,212,683,938 -50.32% Excess/(Deficit) of Receipts over Payments (1,039,659,677) 1,939,501,424 -153.60% A review of the financial performance and position of Nigeria Electricity and Gas Improvement Project revealed that: > There was a significant decrease in total receipts from N20,152,185,362 in 2017 to merely N8,009,016,703 in 2018 representing a steep decline of 60.26%. This was notwithstanding 4 increment from N7,213,896 in 2017 to N32,557,816 in 2018. The sharp decline in total receipts may be attributable to a similarly sharp decline in income received from IDA Credit Loan account for the period. There was a significant cut down in total payments in 2018 with total payments decreasing by an impressive 50.32% from N18,212,683,938 in 2017 to N9,048,676,380 in 2018. A further analysis of payments revealed that all other payments/expenditure were on the decline except expenditure on Fixed Assets. 4. Auditors Messrs Haruna Yahaya & Co. have indicated their willingness to carry out the close out audit of the project in accordance with section 357(2) of the Companies and Allied Matters Act CAP C20 LFN 2004. 5 (Chart Accountants & Tax Practitiaes www.harunayahaya.org e-mail: infohq@harunayahaya.org CORPORATE HEAD OFFICE: ABUJA OFFICE: LAGOS OFFICE: KADUNA OFFICE: Ahmadu Bello House, No. 20, Victoria Ironsi Crescent, No. 10, Tofawa Bolewo Crescent 4th Floor, Hamza Zayyad House, Shiroro Road, Gwarinpa II Estate, Abuja. Off Adediron Ogunsanya Street, No. 4, Muhammadu Buhari Way, PO. Box 2994, Minna. Tel: 08078490826. P 0. Box 3043, Surulere, Lagos P 0. Box 8607, Kaduna. Tel: 08078490823. Tel: 08078490824 Tel: 08078490825. April 23, 2019 The General Manager, Project Management Unit, Transmission Company of Nigeria, Nigeria Electricity and Gas Improvement Project, No 10 Kunene Close, Off Bobo Street, Off Gana Street Maitiama, Abuja REPORT OF THE AUDITORS ON THE FINANCIAL STATEMENTS OF THE TRANSMISSION COMPANY OF NIGERIA. (NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT) FOR THE YEAR ENDED 31sT DECEMBER, 2018 (CREDIT NO.4620-UNI) Report on the Project Financial Statements We have audited the accompanying project financial statements of the World-Bank Assisted Transmission Company of Nigeria (Nigeria Electricity and Gas Improvement Project), as at December 31, 2018 (for the period 1 January 2018 to 31s December, 2018 as set out on pages 6 to 21 and prepared on the basis of the accounting policies on page 5. The project is financed by the IDA, credit number 4620-UNI. Opinion In our opinion, the project financial statements give a true and fair view of the financial position and of the cash flow statements of the World-Bank assisted Transmission Company of Nigeria (Nigeria Electricity and Gas Improvement Project) for the period ended December 31, 2018, in accordance with the provisions of section 4.01 of the Development Credit Agreement (DCA) and the Statements of Accounting Standards issued by the Financial Reporting Council of Nigeria. The Statement of Expenditure (SOE) are in agreement with the books of accounts, adequate supporting documentation has been maintained to support claims to the World Bank for reimbursements of expenditure incurred and which expenditure are eligible for financing under the credit agreement. The Statement of Special Account: (SA) of the project on page 12 have been prepared on the basis of cash deposits and withdrawals for the purpose of complying with the credit agreement and did show a true and fair view of the beginning and ending balances and the account activity for the period ended 31t December 2018. Basis of Opinion We conducted our audit in accordance with the Nigerian and International Standards on Auditing and World Bank guidelines. These standards and World Bank guidelines require that we plan and perform the audit to obtain reasonable assurance that the financial statements are free of material misstatement. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the estimates and judgments made by the project officers in the preparation of the financial statements, and 6 Member of the Public Practice Section of ICAN TRANSMISSION COMPANY OF NIGERIA NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR ENDED 31ST DECEMBER, 2018 The following are the significant accounting policies adopted by World-Bank assisted Transmission Company of Nigeria (Nigeria Electricity and Gas Improvement Project) in preparing its project's financial statements. ACCOUNTING CONVENTION The accounts were prepared under the historical cost convention. BASIS OF ACCOUNTING The cash basis is adopted in the preparation of the project's financial statements. Income and expenditures relating to a specific financial year are taken into account only when the related cash are received or paid for. PRESENTATION OF THE PROJECT FINANCIAL STATEMENTS Details of general and specific funds are disclosed by way of notes in the Project Financial Statements of the Nigeria Electricity and Gas Improvement Project. DEPRECIATION No depreciation charge has been brought into the accounts as fixed assets are stated at cost in the Balance Sheet. INCOME Income from interest on current and fixed/call deposit accounts were recognized when the current account is credited while income from other sources are credited when cash is received. DEVELOPMENT EXPENDITURE Capital expenses that are directly related to the Project for which the credit was granted were capitalized to form part of development Expenditures through which the main activities of the PMU are reported. FOREIGN CURRENCIES Transactions in foreign currencies are converted into Naira at the rates of exchange ruling at the date of each transaction. Balance in foreign currencies are translated into Naira at the exchange rates ruling at the balance sheet date and gains or losses arising on translation are credited to or charge to reserve in the period which they arise. 8 TRANSMISSION COMPANY OF NIGERIA NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT FINANCIAL POSITION AS AT 31ST DECEMBER, 2018 ASSETS NOTES 2018 2017 K N Bank Balances 1 4,994,990,848 6,034,650,526 Project Development Expenditure: Fixed Assets 2 169,524,440 141,140,726 Completed Projects 3 30,584,225,016 25,375,945,482 Goods and Works 4 15,786,121,813 13,741,864,514 Consultancy Services 5 5,026,681,570 3,590,241,423 Capacity Building and Training 6 1,838,164,301 1,838,164,301 Operating Cost 7 2,023,107,110 1,724,349,240 TOTAL ASSETS 60,422,815,099 52,446,356,212 FINANCED BY: Exchange Gain Equalization 8 16,720,000 16,720,000 IDA Credit Loan Account 9 60,406,095,099 52,429,636,212 TOTAL LIABILITIES 60,422,815,099 52,446,356,212 Head PMU/General Manager__ Project Accountant untant c b j 9 TRANSMISSION COMPANY OF NIGERIA NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT RECEIPTS AND PAYMENTS ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2018. RECEIPTS/INCOME 2018 2017 N N4 IDA Credit Loan Account 7,976,458,887 20,144,971,466 Other Income 32,557,816 7,213,896 TOTAL RECEIPTS 8,009,016,703 20,152,185,362 PAYMENTS Project Development Expenditure: Fixed Assets 28,383,714 4,675,000 Completed Projects 5,208,279,534 8,391,524,982 Goods and Works 2,044,257,299 7,164,206,568 Consultancy Services 1,436,440,147 2,074,834,604 Capacity Building and Training 0 45,798,093 Operating Cost 331,315,686 531,644,691 TOTAL PAYMENTS 9,048,676,380 18,212,683,938 Excess/(Deficit) of Receipts over Payments (1,039,659,677) 1,939,501,424 10 TRANSMISSION COMPANY OF NIGERIA NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT CASHFLOW STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2018. 2018 2017 N N Operating Activities Adjustment for changes in operating Assets 0 0 Cashflow from Operating Activities 0 0 Investment Activities: Project Development Expenditure: Fixed Assets (28,383,714) (4,675,000) Completed Project (5,208,279,534) (8,391,524,982) Goods and Works In Progress (2,044,257,299) (7,164,206,568) Consultancy Services (1,436,440,147) (2,074,834,604) Capacity Building and Training 0 (45,798,093) Operating Cost (298,757,870) (524,430,795) Cashflow used in Investing activities (9,016,118,565) (18,205,470,043) Financing Activities: IDA Credit Loan Account 7,976,458,887 20,144,971,466 Exchange Equalization 0 (121,189,938) Cashflow from Financial Activities 7,976,458,887 20,023,781,528 Net cash/cash Equivalent (1,039,659,678) 1,818,311,485 Opening cash balance 6,034,650,526 4,633,927,776 Refund/ Close out of Other Project Fund 0 (417,588,736) Closing cash balances as the end of the year 4,994,990,848 6,034,650,525 Represented by: TCN-NEGIP TSA Pool Account 0 0 Standard Chartered Bank Special Account-IDA 4,488,978,730 5,594,924,965 Treasury Single Account (TSA)-Drawdown Account 506,012,118 439,725,560 TOTAL 4,994,990,848 6,034,650,525 11 TRANSMISSION COMPANY OF NIGERIA NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31ST DECEMBER 2018. 2018 2017 1 Bank Balances First Bank Plc, Special account- IDA 0 Standard Chartered Bank Special Account-IDA 4,488,978,730 5,594,924,965 Treasury Single Account (TSA) 506,012,118 439,725,560 Total 4,994,990,848 6,034,650,525 2 Fixed Assets 2018 2017 N N Opening balance 141,140,726 134,465,726 For the year 28,383,714 4,675,000 Total 169,524,440 141,140,726 Breakdown of Fixed Assets Motor Furniture & Office Total Vehicles Fittings Equipments N N NN 1/1/2018 80,582,690 22,288,471 38,269,565 141,140,726 Addition 0 150,000 28,233,714 28,383,714 Disposal - .____ 31/12/2018 80,582,690 22,438,471 66,503,279 169,524,440 2018 2017 N N 3 Completed Projects 25,375,945,482 16,984,420,500 Opening Balance 5,208,279,534 8,391,524,982 For the year 30,584,225,016 25,375,945,482 Total 4 Goods and Works Opening Balance 13,741,864,514 6,577,657,946 for the year 2,044,257,299 7,164,206,568 Total 15,786,121,813 13,741,864,514 12 TRANSMISSION COMPANY OF NIGERIA NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31ST DECEMBER 2018. 2018 2017 5 Consultancy Services Opening Balance 3,590,241,423 1,515,406,819 for the year 1,436,440,147 2,074,834,604 Total 5,026,681,570 3,590,241,423 6 Capacity Building and Training Opening Balance 1,838,164,301 1,792,366,208 for the year 0 45,798,093 Total 1,838,164,301 1,838,164,301 7 Operating Cost Insurance expenses 6,199,335 0 Advert placements 9,900,685 13,534,624 Postage and Courier 1,392,342 1,906,943 Fueling of official car 3,015,664 4,299,227 Repair and Maintenance 5,732,025 7,510,140 Utilities 2,309,372 2,406,287 ICT Maintenance fee 2,946,235 4,621,232 Solid/liquid waste 510,300 467,775 Traveling and tour 33,521,142 89,646,887 Salaries and wages 7,390,000 10,740,000 Printing and Stationeries 6,388,025 4,566,520 Telephone Expenses 186,107 901,895 Duties and others 153,612,440 266,428,877 Audit/Professionals fees 0 2,200,000 Bank charges 397,913 3,931,133 Entertainment 3,134,750 10,457,762 ICT Subscription 7,259,319 9,085,000 Traveling for Factory 16,600,663 53,034,209 Repair and Maintenance of Fittings 658,350 2,611,900 Security Expenses 1,443,000 6,548,850 Fueling of Generators 5,650,000 6,750,000 Office Maintenance 6,846,450 9,357,030 Other Related Service 56,058,069 20,396,400 Motor Vehicle License 163,500 242,000 331,315,686 531,644,691 Other Income for the year (Note 10) (32,557,816) (7,213,896) Opening Balance B/F 1,724,349,240 1,199,918,445 Total 2,023,107,110 1,724,349,240 13 TRANSMISSION COMPANY OF NIGERIA NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31ST DECEMBER 2018 2018 2017 8 Exchange (Gain)/Loss Equalization Opening Balance 16,720,000 137,909,938 Current Charge 0 (121,189,938) Total 16,720,000 16,720,000 9 IDA Credit Loan Amount Opening Balance 52,429,636,212 32,284,664,746 for the year 8,055,467,067 20,144,971,466 Total 60,485,103,279 52,429,636,212 10 Other Fund Liability Opening Balance 0 417,588,736 Closed out on other Project's Fund in TCN-NEGIP Pool Account 0 (417,588,736) Total 0 0 11 Other Income Interest from Special Account 32,557,816 7,213,896 Total 32,557,816 7,213,896 14 TRANSMISSION COMPANY OF NIGERIA NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT STATEMENT OF SPECIAL ACCOUNT-DOLLAR FOR THE PERIOD ENDED 31ST DECEMBER, 2018 IDA CREDIT NO. 4620-UNI. ACCOUNT NO.: 01270197950 BANK: STANDARD CHARTERED BANK PLC 2018 2017 US DOLLAR US DOLLAR 1 Opening Balance 18,313,993.34 9,027,501.00 2 Amount advance by IDA In form of replenishment and 26,377,751.40 65,404,393.18 direct payments (1/1/2018 to 31/12/18) Interest received on IDA Special 106,547.00 29,396.80 3 Account Present outstanding amount to the Special Account as at 4 31/12/18 44,798,291.74 74,461,290.98 5 Closing Balance as per Bank 14,717,963.05 18,313,993.34 Statement 6 Add: Amount of eligible expenditures paid 25,785,330.67 46,309,658.25 Transferred to TSA Account 4,291,218.02 9,837,176.03 Bank Charges 3,780.00 463.36 Total advance accounted for 44,798,291.74 74,461,290.98 15 TRANSMISSION COMPANY OF NIGERIA NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT STATEMENT OF SPECIAL ACCOUNT-DOLLAR FOR THE PERIOD ENDED 31ST DECEMBER, 2018 IDA CREDIT NO. 4620-UNI. ACCOUNT NO.: 0020499261102 BANK: CBN - TSA 2018 2017 NAIRA NAIRA 1 Opening Balance 439,725,560.00 116,693,251.00 2 Interest Received 3 Transfer from IDA to TSA 223,368,173.00 3,000,000,000.00 663,093,733.00 3,116,693,251.00 4 Closing Balance as per Bank Statement 506,012,117.80 439,725,560.00 5 Add: Amount of eligible expenditures paid 156,683,702.20 2,673,036,558.00 Bank Charges 397,913.00 3,931,133.00 Total advance accounted for 663,093,733.00 3,116,693,251.00 16 APPENDIX 1 TRANSMISSION COMPANY OF NIGERIA NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT SCHEDULE OF PROJECT FIXED ASSETS S/NO. DESCRIPTION MOTOR FURNITURE OFFICE TOTAL VEHICLES AND FITTINGS EQUIPMENTS N N N N 1 Procurement of office tables and chairs 85,000 85,000 2 2 fair light drawer cabinet 100,000 100,000 3 Laser printer, photocopier, scanner, steel 972,800 972,800 cabinet with glass doors (2), steel cabinet with steel doors (5) 4 1.5 HP Split Unit (2) 160,400 160,400 5 1.5 HP Split Unit (2) 138,000 138,000 6 2HP NCS (second wing) 181,000 181,000 7 2HP NCS (Accounts office) 191,000 191,000 8 1.5HP Panasonic Split A/C and Computer 175,000 175,000 system 9 HP Desktop System (14gb,320 hdd,HP 194,250 194,250 '19 flat screen monitor) 10 HP Colour LaserJetCP6015XH,5200DTN 4,229,875 4,229,875 (2),CP3525(2),HP PANASONIC A/C 11 Toyota Land Cruiser Prado and Toyota 24,638,250 24,638,250 Hilux (2) 12 12 Office Chairs for PMU Office 140,800 140,800 13 Toyota Hilux Pick up 5,333,333 5,333,333 14 Toyota Hilux Pick up 5,333,333 5,333,333 15 Toyota Hilux Pick up 5,333,333 5,333,333 16 Toyota Hilux Pick up 5,333,333 5,333,333 17 Toyota Hilux Pick up 5,333,333 5,333,333 18 Toyota Hilux Pick up 5,333,333 5,333,333 19 Toyota Corolla 4,888,888 4,888,888 20 Toyota Corolla 4,888,888 4,888,888 21 Toyota Prado 14,166,666 14,166,666 22 HP LaserJet printer 41,000 41,000 23 Laptop computer 320,800 320,800 24 Projector 70,000 70,000 25 LG TV 32 CS410 and LG Bracket 32 71,050 71,050 Universal 26 Haier Thermocool fridge Model 53,000 53,000 No:HR135A 27 1. HP Desktop computer, 1. Levono Think 324,750 324,750 centre edge and 1.1.5KVA UPS mercury. 28 4No. Desktop computer Levono Think, 1,311,000 1,311,000 1.5KVA UPS, Microsoft office 2010 (10) and (1) Scanner 29 1. Dell Inspiron Laptop, 1. Ms-office 2012 264,500 264,500 30 Multipurpose Industrial 6,701,965 6,701,965 photocopy/printer with full accessories 17 31 Office filling cabinet 45,000 45,000 32 Office Tea Utensils 85,000 85,000 33 El PR1 Channel 400,000 400,000 34 1.6m Excutive Chair 660,000 660,000 35 Chairs 22,600 22,600 36 GSM Wireless Desk Phone 30,000 30,000 37 Office Chairs 380,000 380,000 38 Dining set 280,000 280,000 39 Executive Chairs 750,000 750,000 40 Office Tables 220,000 220,000 41 Television 60,000 60,000 42 TV 60,000 60,000 43 TV Stand 31,000 31,000 44 Waste Basket 171,600 11,00 45 TV 17,60 171,600 45 TV 120,000 120,000 46 Fabrication and installation of Diesel 170,000 170,000 Tank 47 Office Equipment 29,500 29,500 48 Water Pump 28,400 28,400 49 Fire Fighting Equipment 978,975 978,975 50 100KVA Generating Set 7,077,263 7,077,263 51 Office furniture 12,344,300 12,344,300 52 Office furniture 4,023,476 4,023,476 53 Laptop 309,938 309,938 54 Supply of 3no. Industrial Air Condition 641,400 641,400 55 Installation of Air condition 150,150 150,150 56 Supply and installation 105,000 105,000 57 Supply and installation 344,000 344,000 58 Supply & Inst. Air 105,000 105,000 59 Proc. Of Refrigenerator 52,000 52,000 60 Supply of Chairs 795,000 795,000 61 Replacement of Faulty lenovo desktop 45,000 45,000 62 Replacement of official Chair 90,000 90,000 63 Projector/ Presentation Remote Control 33,000.00 33,000 64 Projector/ Screen & Monitoring Accessories 750,000.00 750,000 65 3HP standing A/C 242,000.00 242,000 66 2 CISCO Layer 3Switches 1,560,000.00 1,560,000 67 Voice Technology Reveiwer 1,541,300.00 1,541,300 68 Photocopier 520,000.00 520,000 69 UPS (650) at TSP 860,650.00 860,650 70 60 Nos Chairs 1,111,500.00 1,111,500 71 Construction of File Cabinet 785,795.00 785,795 72 sccanner and Adobe Converter 140,000 140,000 73 A3 HP Officejet 95,000 95,000 74 Refrigrator 58,000 58,000 75 3 SetExcutive Chairs 600,000 600,000 76 Air Conditional 161,000 161,000 77 3 Panasonic 2HP A/C 744,000 744,000 78 1Window Panasonic 2HP A/C 154,000 154,000 79 1 Panasonic A/C 2HP 196,000 Panasn7- -, 196,000 80 Purchase of 3inl Officejet 8710 Printer 130,000 130,000 81 Purchase of Water Dispenser 45,000 45,000 18 82 6.Nos of HP PRO Book 450G Laptop 4,500,000 4,500,000 Sub Total Previous Year 80,582,690 22,288,471 38,269,565 141,140,726 Curent Year Purchase 83 purchase of five(5) HP Pro Book G2 2,330,214.25 2,330,214 _ _ Laptops 84 Purchase of Chairs 150,000.00 150,000 85 Purchase of Laptop and Printer 1,346,000.00 1,346,000 86 Purchase of A/C 185,500.00 185,500 87 Purchase of Standing Fan 86,000.00 86,000 88 Purchase of UPS 194,000.00 194,000 89 Purch of electrical Kettles 45,000.00 45,000 90 Purchase of refrigerator 110,000.00 110,000 91 Purchase of APC/UPS 1,180,000.00 1,180,000 92 Purchase of computer mouse 5,000.00 5,000 93 Purchase of SHARP COPIER MX- 22,752,000.00 22,752,000 MI204DN Grand Total 80,582,690 22,438,471 66,503,279 169,524,440 19 APPENDIX 2 TRANSMISSION COMPANY OF NIGERIA NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT SCHEDULE PF IDA FUND FOR THE YEAR ENDED 31ST DECEMBER,2018 IDA CREDIT NO. 4620-UNI. AMOUNT AMOUNT DISBURSED DATE IDA-REFRENCE DISBURSED (N) ($) 16/01/18 AF21-B/SC-18/01/2018 11,459,044.72 $37,533.72 31/01/18 AF12/SC-15/01/2018 21,386,759.59 $70,051.62 31/01/18 AF12/SC-15/01/2018 34,187,176.49 $111,978.96 31/01/18 AF13/SC-14/01/2018 195,718,496.98 $641,069.43 31/01/18 AF13/SC-14/01/2018 7,771,445.08 $25,455.11 31/01/18 AF13/SC-14/01/2018 227,183,728.58 $744,132.75 05/02/18 36518/02/2018 29,625,196.26 $97,052.24 09/02/18 36521/02/2018 17,041,423.74 $55,827.76 12/02/18 36522/02/2018 15,085,455.00 $49,420.00 21/02/18 AF12/SC-15/02/2018 52,675,219.00 $172,564.19 28/02/18 36523/0322/02/2018 77,075,563.95 $252,499.80 28/02/18 36519/0321/02/2018 136,575,028.26 $447,420.24 02/03/18 AF14 TER/03/2018 18,820,054.44 $61,654.56 16/04/18 FT0125/04/2018 24,761,228.80 $81,171.05 16/04/18 FT0126/04/2018 55,447,251.57 $181,764-47 20/04/18 FT0127/04/2018 19,645,500.65 $64,400.92 20/04/18 FT0128/04/2018 7,225,844.42 $23,687.41 02/05/18 0129/AF/05/2018 81,129,160.00 $265,475.00 11/05/18 0130/AF/05/2018 79,456,000.00 $260,000.00 16/05/18 0131/AF/05/2018 20,268,516.61 $66,323.68 23/05/18 0132/AF/05/2018 78,364,329.57 $256,427.78 29/05/18 0133/AF/05/2018 158,815,017.84 $519682.65 29/05/18 0134/FA/05/2018 48,266,350.93 $157,939.63 29/05/18 0135/AF/05/2018 49,935,932.35 $163,402.92 04/06/18 0137/06/2018 34,766,434.26 $113,764.51 04/06/18 0136/06/2018 42,839,209.70 $140,180.66 26/06/18 0138/06/2018 26,933,918.48 $88,134.55 29/06 18 0323/06/2018 2,139,200,000.00 $7,0000000.00 29/06/18 0139/06/2018 45,519,120.00 $148,950.00 17/05/18 36526/07/2018 14,339,995.79 $46,924.07 17/05/18 36526/07/2018 57,493,545.65 $188,133.33 12/07/18 0325/07/18 110,382,720.00 $361,200.00 19/07/18 0328/07/2018 74,368,000.00 $265,600.00 19/07/18 0327/07/2018 123,706,880.00 $404,800.00 19/07/18 0326/07/2018 97,792 00000 $320,000.00 19/07/18 0324/07/2018 56,473, 19614 $184,794.49 20 19/09/18 0141/07/2018 5,597452.11 $18,316.27 19/09/18 0142/07/2018 29,353,760.13 $96,052.88 19/09/18 0143/07/2018 33,116,166.75 $108,364.42 19/09/18 0144/07/2018 795,309,346.48 $2,602,452.05 02/08/18 FT/0329/08/2018 52,074,240.00 $170,400.00 02/08/18 INFLO/0330/08/2018 1,833,600,000.00 $6,000,000.00 03/08/18 IDA/51280/2018 14,027,040.00 $45,900.00 22/08/18 IDA/51280/2018 3,254,053.25 $10,648.08 22/08/18 IDA/51280/2018 7,765,543.54 $25,410.81 19/07/18 36531/09/2018 14,274,576.00 $46,710.00 25/07/18 36532/09/2018 17,042,294.35 $55,766.67 26/09/18 0332/09/2018 78,111,360.00 $255,600.00 25/10/18 0154/10/2018 108,651,086.92 $354,489.68 25/10/18 0152/AF12/10/2018 42,649,997.46 $139,561.28 25/10/18 0154/AF13/10/2018 261,870,253.57 $856,905.28 05/11/18 FT0156/11/2018 516,830.72 $1,691.20 13/11/18 FT0155/11/2018 2,777,965.12 $9,090.20 13/11/18 FT0157/11/2018 2,128,455.10 $6,964.84 29/11/18 FT0158/11/2018 937,397.44 $3,067.40 29/11/18 FT0159/11/2018 3,504,009.60 $11,466.00 29/11/18 FT0160/11/2018 803,483.52 $2,629.20 29/11/18 FT0161/11/2018 6,282,203.92 $20,556.95 05/12/18 0123/12/2018/IDA 2,165,955.81 $7,066.74 05/12/18 0162/12/2018/IDA 93,210,211.53 $304,111.62 14/12/18 0164/12/2018/IDA 2,269,209.53 $7,403.62 20/12/18 IDA/TRF/12/2018 265,742,935.69 $867,024.26 20/12/18 0168/12/2018/IDA 2,272,084.50 $7,413.00 20/12/18 0167/12/2018/IDA 2,267,793.50 $7,399.00 20/12/18 0166/12/2018/IDA 3,148,435.43 $10,272.22 TOTAL 7,976,458,886.82 26,122,151.17 21