Power generation companies (GenCos) have urged the Federal Government and the Nigerian Independent System Operator (NISO) to name, disconnect, and prosecute firms and individuals caught stealing electricity along the Ikorodu–Sagamu transmission corridor.
Eight of Nigeria’s largest power generation companies, including Transcorp Power, Egbin Power, and Geregu Power Plc, have signed onto President Bola Tinubu’s ₦3.3 trillion debt settlement programme, aimed at restoring liquidity to the electricity sector.
FG, Gencos Bicker Over Electricity Debt Reconciliation
The Federal Government and power generation companies have disagreed over the reconciliation of debts in Nigeria’s electricity market, with both sides offering differing accounts of the actual liabilities owed to the GenCos.
The Minister of Power, Adebayo Adelabu, said...
Three months after the Federal Government issued a ₦501bn bond to settle longstanding electricity debts, power generation companies (GenCos) say they have yet to receive any payment.
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.
