US EditionNigeria: Govt Begins Negotiation With Gencos Over N4 Trillion Debt
- The Nigerian government began negotiations on May 4, 2025, in Abuja with power generation companies to address a N4 trillion debt crippling the sector.
- The debt has been driven by ongoing issues such as persistent delays in payments, inconsistent availability of gas, fluctuations in foreign currency values, and long-standing obligations that have weakened the operations of GenCos.
- Minister of Power Adebayo Adelabu assured that N2 trillion will be paid immediately in cash and promissory notes, with the balance settled within six months through other financial instruments.
- Kola Adesina described the situation as a "national emergency," while Colonel Sani Bello cautioned that if immediate action is not taken, Nigeria’s entire power sector risks failing.
- Resolving this debt aims to stabilize Nigeria’s power infrastructure, prevent further crises, and support a transition to full sector liberalization with cost-reflective tariffs.
23 Articles
23 Articles
Electricity: Nigerian govt pledges to offset N4 trillion debt to GenCos
Last month, GenCos warned of imminent shutdown due to a N4 trillion debt owed by the Nigerian government for electricity generated and supplied to the national grid. The post Electricity: Nigerian govt pledges to offset N4 trillion debt to GenCos appeared first on Premium Times Nigeria.
Gas Transition Reducing Cost Of Manufacturing In Nigeria, Says Firm
Despite the consistent market demand for essential goods, Nigerian manufacturers face significant power challenges. However, transitioning from the unstable grid supply to gas plants, is helping manufacturers reduce the cost of doing business. Executive director at Kitchen Vegetable Oil, Ifeyinwa C. Udeagbala, said the high cost of grid power and the instability of the electricity supply, which poses a risk to their factory equipment, influenced…
FG To Address N4tn Power Sector Debt As Tinubu Scheduled To Meet With GenCos » News.ng
President Bola Tinubu is scheduled to meet with electricity generation company executives as part of urgent measures to resolve the N4 trillion debt crisis threatening Nigeria’s power supply system. This high-level engagement follows Tuesday’s critical meeting in Abuja between Power Minister Adebayo Adelabu and generating companies’ chairmen, amid growing concerns about potential national grid failure due to the sector’s severe financial constra…
Tinubu to Meet Gencos Tuesday Over N4trn Power Debt
By Adedapo Adesanya President Bola Tinubu will meet with the leadership of electricity-generating companies (GenCos) over the N4 trillion power sector debt on Tuesday, May 6. This was disclosed by the Special Adviser on Strategic Communications and Media Relations to the Minister of Power, Mr Adebayo Adelabu, who noted that the federal government vowed to […]
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