Bilateral Companies Owe Nigeria $8.5m for Power Supply - NERC The Nigerian Electricity Regulatory Commission (NERC) has reported that some international bilateral companies owe Nigeria’s electricity generation companies (GenCos) about $8.5 million in unpaid power supply. In its latest quarterly report, the Commission said the companies...

NDPHC Commends Tinubu Over N4trn Bond Approval for GenCos' Debt Settlement   The Managing Director of the Niger Delta Power Holding Company (NDPHC) Jennifer Adighije, has commended President Bola Tinubu for his administration’s commitment to revamping Nigeria’s power sector, following his recent approval of a N4tn...

NEITI Reveals Oil Firms, Agencies Owe FG N1.5tn in Unremitted Revenues   The Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that oil companies and some government agencies owe the federation about N1.5tn in outstanding oil and gas remittances. NEITI’s Executive Secretary, Dr Orji Ogbonnaya Orji, stated...

GenCos Raises Alarm Over Exclusion from FG's N4trn Debt Verification Process   The Association of Power Generation Companies (GenCos) has raised concerns over their exclusion from the Federal Government’s ongoing debt verification and reconciliation process, which seeks to address the N4tn owed to generation companies in...

FG Plans N758bn Bond to Offset Pension Liabilities – PenCom   The Federal Government may issue a N758bn bond before the first week of October to clear outstanding pension liabilities, the National Pension Commission (PenCom) has disclosed. Speaking at a press briefing in Abuja on Thursday, the...

N5.6trn Debt Threatens Energy Supply as Gas Firms Cut Supply   Nigeria faces the threat of nationwide blackouts as gas companies reduce their supply to power plants due to an outstanding N5.6 trillion debt owed to power generation companies. The development has raised concerns about the stability...