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...

Unused Power: GenCos Lost N1.2trn In Five Years   About 24 power Generating Companies (GenCos) lost N1.19trn on electricity capacity not paid for in the Nigerian Electricity Market in the last five years. Records of loses on the stranded power generation capacity since 2015 shows that...

In 8 Months, Gencos Incur N362bn Debt   Power generation companies are owed a total of N361.67bn by the Nigerian Bulk Electricity Trading Plc for electricity generated, sold and fed into the national grid from January to August this year. The government-owned NBET buys electricity in bulk...