GenCos Add 4,000MW Power Capacity, Decry N600bn Debt   Power Generation Companies (GenCos) in Nigeria have said they have raised power plants’ capacity by 4,000 megawatts (MW) seven years after the privatization and despite being owed over N600 billion debts. Speaking against the call for the traversal...

Gencos Oppose Reversing Privatisation, Allege N1trn Debt     Electricity generation companies on Sunday kicked against calls by the Senate for a reversal of the privatisation of the power sector. The Gencos also announced that the indebtedness of the power sector to electricity producers had risen to about...

GenCos Loses N122.79bn To Capacity Challenges In Five Months     Nothing less than N122.79 billion has been lost by Nigeria’s power generation companies (GenCos) between January to May this year. Pioneer Executive Secretary of the Association of Power Generation Companies, Dr. Joy Ogaji, said while available capacity...

Power Grid Collapses, TCN Reaches 90% Restoration     The Transmission Company of Nigeria (TCN) on Tuesday reported the collapse of the national power grid. The spokesperson for the company said the incident occurred at 11:13am, and that restoration of the grid had reached 90 percent at the...

Privatisation Has Exposed Power Sector Weakness, Says Gencos     Electricity generation companies in the country have said the privatisation of the power sector has exposed the inherent structural weakness in the sector. The Gencos said they had continued to perform in line with industry agreements despite the...

Gas Shortage Stalls 23,081MW, Despite Gencos N200bn Fund   The dearth of gas stalled the generation of 23,081.5 megawatts of electricity in eight days despite the N200bn that was paid by the Federal Government recently to the power sector, particularly for settling gas debts. Investigations showed that...