Nigeria Will Remain In Darkness Except FG Pays 1.6trn Naira Says GENCOS

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The Association of Power Generation Companies (APGC), said that the power supply situation in the country was worsening because they were owed over 1.6 trillion naira since 2013.

The Executive Secretary, Dr. Joy Ogaji, (APGC), in a briefing in Abuja, argued that a situation where the energy dispatched by the power generators was used as an index for power generation capacity was detrimental to their survival.

According to her, the Gencos have exhausted all their borrowing sources, as the Central Bank of Nigeria (CBN) had reportedly warned the banks to desist from lending money to them.

Ogaji stated admitted that at the moment, the Gencos were generating an average of 4,000MW.
However, the debt claim by the Gencos was immediately refuted by the Nigerian Bulk Electricity Trading Company (NBET).

NBET disputed the figures quoted by the power generators, saying only companies with active gas supply and transportation contracts are paid for unutilized capacity.

The Head, Corporate Communication, NBET, Henrietta Ighomrore, explained that in the country, only five power generation companies with active Gas Purchase Agreement were entitled to be paid for unused capacity.

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