1 hour ago
1
Power Power Generation Companies, GenCos, has raised an alarm that the Nigerian authorities is yet to pay N3.3 trillion approved for the powerfulness assemblage by President Bola Ahmed Tinubu.
The Chief Executive Officer of the Association of Power Generation Companies, Dr. Joy Ogaji disclosed this successful a caller webinar.
DAILY POST reports that successful April 2026, statesmanlike spokesperson, Bayo Onanuga, had announced that President Tinubu had approved a N3.3 trillion powerfulness assemblage indebtedness settlement.
According to Ogaji, the government’s indebtedness figures remained a ‘moving target.’
She insisted that portion the Nigerian government-approved N3.3 trillion powerfulness assemblage indebtedness accumulated betwixt February 2015 and March 2025, GenCos judge that the fig stood astatine N7 trillion.
Ogaji explained that the abstracted N501 cardinal enslaved raised betwixt December and January to settee a negotiated N827.16 cardinal chunk of existent indebtedness stay unsettled.
According to her, lone 5 GenCos operating 14 plants (Geregu, Ibom Power, FIPL, NDPHC, and Mabon Energy) signed onto it due to the fact that it required others to instrumentality a monolithic 50 percent cut.
“The past 1 was N3.3tn earlier they appointed a caller peculiar advisor connected power. Now, fto maine archer you that from that N3.3 trillion oregon N2.8 trillion, to date, we person not received a dime. Nothing has been received by the GenCos,” she stated.
English (US) ·