Discos, Gencos Deny Knowledge Of FG’s N200bn Payment   Power generation and distribution companies on Thursday said they were unaware of any N200bn that was paid to the power sector by the Federal Government in the past three days. Group Managing Director, Nigerian National Petroleum Corporation, Mele...

FG Offsets Gencos’ Gas Bill With N200bn     The Federal Government has in the past two to three days paid over N200bn for power supply in Nigeria, the Group Managing Director, Nigerian National Petroleum Corporation, Mele Kyari, declared on Wednesday. Also, the Association of Nigerian Electricity Distributors,...

Gas shortage: Blackout Looms Nationwide As GenCos Cut Generation     As millions of Nigerians continue with the forced restriction of their movements in the face of the raging COVID-19 pandemic and are expected to stay at home monitoring latest news on the pandemic and other critical...

BPE Opposes Gencos, Discos’ Sale Reversal, Proposes Subsidy   The Bureau of Public Enterprises has opposed the reversal of the privatisation of the country’s power sector despite calls on government from different quarters to repossess the power generation and distribution companies. The bureau is also targeting the...

In 5 Months, 25 Gencos’ Earnings Drop To 29.4%   The 25 electricity generation companies (Gencos) that produce and supply electricity in Nigeria have had their monthly payments for power supplied to the country’s national grid cut down to an average of 29.4 per cent from...

NBET Owes Power Producers Over N1trn - Gencos   Power producers in the country have said they are owed at least N1tn by the Nigerian Bulk Electricity Trading Plc. They said the debt was threatening their viability and undermining their ability to invest more. The government-owned NBET buys...