Tag: GENCOs

The federal government has constituted a committee to address the payment of outstanding debts owed to power generation companies (GenCos) and to establish sustainable payment mechanisms to prevent future accumulation.

Power generation companies have said that discussions with the Federal Government on the N4tn power sector legacy debt are still ongoing.

The Federal Government’s debt owed to electricity generation companies has risen to N1.05tn in the first half of 2025.

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...

President Bola Tinubu has approved a N4trn bond to clear verified debts owed to power generation companies and gas suppliers as part of efforts to stabilise Nigeria’s electricity market and restore confidence in the sector.