GenCos Reject Presidency's N2.8trn Debt Deal   The Association of Power Generation Companies (GenCos) has firmly rejected claims by Presidency sources that N2.8tn constitutes a newly verified and final settlement of legacy debts owed to electricity generation companies, describing the assertion as inaccurate and misleading. In a...

President Bola Tinubu has approved the payment of ₦2.8 trillion to power generation companies (GenCos) as the Federal Government’s verified liability for accumulated electricity subsidies dating back to 2010.

‘Institutionalised Extortion’ Allegations by NLC False, Misrepresent Facts - GenCos The Association of Power Generation Companies (APGC) has stated that allegations by the President of the Nigeria Labour Congress (NLC), Comrade Joe Ajaero, claiming electricity Generation Companies GenCos are engaging in “institutionalised extortion” and make...

GenCos Decry N6tn Unpaid Electricity Bills  Power generation companies under the umbrella of the Association of Power Generation Companies have disclosed that outstanding unpaid invoices for electricity generated and supplied to the national grid have surged to about N6tn, raising fresh concerns over the sustainability...

Nigeria’s power generation companies has urged the Federal Government to extend its proposed ₦3.6 trillion electricity subsidy plan beyond 2028.

FG Moves to Tackle ₦4tn Power Debt as Five Gencos Sign Settlement Deals The Federal Government has taken steps towards resolving Nigeria’s estimated N4tn power sector debt burden as five power generation companies signed settlement agreements under the Presidential Power Sector Debt Reduction Programme, following...