Nigeria’s electricity generation companies have warned that unpaid debts totalling over N4 trillion are endangering their operations and threatening national power supply.
In a statement issued on Monday, Mallam Sani Bello, Chairman of the Board of Trustees for the Association of Power Generation Companies, urged the Federal Government and key stakeholders to urgently intervene.
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The GenCos say they have invested heavily over the past decade, increasing generation capacity in line with contractual obligations, but are now struggling to remain operational due to mounting debts.
Hopes for relief through external support mechanisms, including the World Bank’s Power Sector Recovery Programme, have reportedly faltered as distribution companies fail to meet required performance benchmarks.
The association is calling for immediate implementation of a structured payment plan to settle outstanding invoices and avert a potential shutdown of generation assets.
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