Nigeria faces Nationwide blackout over N4 trillion Federal Govt owed GenCos
Nigeria faces Nationwide blackout over N4 trillion Federal Govt owed GenCos
Nigeria’s power generation companies (GenCos) have raised the alarm over a looming collapse in electricity generation, citing an unresolved ₦4 trillion debt owed by the Federal Government.
The companies warn that without immediate intervention, they may be forced to shut down operations entirely.
Col. Sani Bello (retd), Chairman of the Board of Trustees of the Association of Power Generation Companies (APGC), disclosed that GenCos are currently owed ₦2 trillion for electricity supplied in 2024, in addition to ₦1.9 trillion in legacy debts.
According to him, the sector’s liquidity crisis is being worsened by the government’s failure to pay over 70% of GenCos’ monthly invoices.
“This financial shortfall is crippling the sector. Without urgent and concrete steps, electricity generation in Nigeria could grind to a halt,” Bello said.
The companies are demanding a clear and actionable payment plan to settle the debts, warning that continued non-payment threatens not only their survival but the stability of the entire electricity value chain.
They blamed the deepening crisis on chronic underfunding, poor policy implementation, and a lack of investor-friendly frameworks.
Hopes that the World Bank’s Power Sector Recovery Operation (PSRO) might provide relief have faded, as other sector participants have failed to meet key performance benchmarks tied to the programme.
“The liquidity crisis is the single biggest threat to power supply in Nigeria,” the GenCos stated. “We’ve made significant investments over the past decade, in good faith, despite systemic constraints and a market that lacks proper financial guarantees.”
They added that tax pressures, regulatory bottlenecks, and rising operational costs—compounded by inflation, forex instability, and unresolved tariff issues—have made the situation increasingly unsustainable.
GenCos said the government’s 2025 budget allocation of ₦900 billion is grossly inadequate, covering neither outstanding debts nor future obligations.
Despite the implementation of Partial Contract Activation in the Nigerian Electricity Supply Industry (NESI) since July 2022, key mechanisms like the minimum remittance order, bilateral market structure, and the waterfall payment system have remained largely ineffective. As a result, nearly 90% of GenCos’ monthly invoices go unpaid.
“The power we generate is consumed, but we are not paid,” the statement said. “Without securitised payments or reliable financing plans, the entire sector is at risk.”
Currently, Nigeria operates 40 grid-connected power plants run by GenCos, independent power producers, and the Niger Delta Power Holding Company. With the sector now facing a critical financial cliff, the GenCos are urging the government to act swiftly to avert a full-scale collapse.
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BREAKING ; Atiku’s Son dumps PDP defects to APC, vows to work for President Tinubu’s reelection
BREAKING ; Atiku’s Son dumps PDP defects to APC, vows to work for President Tinubu’s reelection
The Son of Abubakar Atiku Abubakar, former Vice President and 2023 Peoples Democratic Party (PDP) presidential candidate, Alhaji Atiku Abubakar, dumped the PDP and pledged to work for President Bola Ahmed Tinubu’s re-election in 2027.
Abubakar, popularly known as Abba, formally announced his defection to the APC at the National Assembly, where he was received by the Deputy President of the Senate, Senator Barau Jibrin, with APC leaders from the North-East.
Party leaders described the move as a significant boost to the APC’s consolidation efforts ahead of the next general election, given Abba’s political network and grassroots organisation.
Announcing his resignation from the PDP, Abba said the decision was informed by his conviction in the leadership style of Senator Barau and the policies of the Tinubu administration.
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Eight persons killed, others injured in another fatal road accident
Eight persons killed, others injured in another fatal road accident
Eight persons died while three others were injured in a road traffic crash along the Potiskum–Dogon Kuka carriageway in Yobe.
The Yobe Sector Commander of the Federal Road Safety Corps (FRSC), Mr Andrew Longkam, confirmed the incident on Thursday.
He said the crash occurred around Gaggaba on the Potiskum–Dogon Kuka axis at about 12:40 hours.
“Preliminary reports from Dogon Kuka Unit Command show the incident was promptly reported to the corps,” Longkam said.
FRSC operatives arrived within five minutes, enabling swift rescue, evacuation of victims, traffic control, road clearance and prevention of secondary crashes.
The crash involved a white Howo trailer, registration DAL 963YY, and a white Mitsubishi Canter, registration NNR 437XA.
“Twelve adult males were involved, with eight fatalities and four rescued, including three injured and one unhurt,” he said.
The injured and deceased were taken to Government General Hospital, Dogon Kuka, where the injured received prompt medical attention.
Longkam said the FRSC tow truck cleared the obstruction, restored traffic flow and notified the Police Motor Traffic Division in Dogon Kuka.
“Preliminary findings indicate the Mitsubishi Canter, suspected to excessive speeding, committed a route violation and crashed into the trailer,” he said.
He said excessive speed and route violation were suspected causes, adding that investigations were ongoing to determine the exact circumstances.
The sector commander urged motorists to avoid speeding, route violations and unsafe practices, assuring continued enforcement, emergency response and public education across the state. (NAN)
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Atiku finally breaks silence after his Son defects to APC
Atiku finally breaks silence after his Son defects to APC
Former Vice President and Peoples Democratic Party (PDP) presidential candidate, Atiku Abubakar, has addressed his son Abba Abubakar’s decision to join the All Progressives Congress (APC), describing it as a personal choice.
In a statement posted on his X handle, Atiku said, “The decision of my son, Abba Abubakar, to join the APC is entirely personal. In a democracy, such choices are neither unusual nor alarming, even when family and politics intersect.”
He added, “As a democrat, I do not coerce my own children in matters of conscience, and I certainly will not coerce Nigerians.”
The former vice president also highlighted his concerns about the ruling party, saying, “What truly concerns me is the poor governance of the APC and the severe economic and social hardships it has imposed on our people.”
“ I remain resolute in working with like-minded patriots to restore good governance and offer Nigerians a credible alternative that brings relief, hope, and progress.”
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