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Darkness looms in Nigeria as GenCos threaten shutdown over unpaid N4tn debt

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There is looming darkness in Nigeria as power generation companies threaten a showdown.

This is as unpaid debts from the federal government and other market operators surged to over N4 trillion.

Chairman of the Boardof Trustees of the GenCos, Rtd. Colonel Sani Bello, made threats known to journalists in Abuja on Monday.

GenCos lamented that the mounting liabilities were crippling their ability to operate and threatening a total shutdown of electricity generation in Nigeria.

“The power generated by GenCos has continued to be consumed in full without corresponding payment.

“This situation has dire consequences for the GenCos and, by extension, the entire power value chain,” he said.

Of the N4tn owed, N2tn is for electricity generated in 2024, while N1.9tn represents legacy debts.

GenCos noted that the 2025 national budget’s N900 billion allocation for the power sector is grossly inadequate to address those arrears and sustain future payments.

Bello described the situation as “a clear departure from existing terms of the Power Purchase Agreement,” adding that under current conditions, GenCos only receive about 9–11 ppercent of their invoices, while regulatory bodies and other service providers are paid in full.

The GenCos also highlight the sharp decline in collection rates— below 30 percent in 2024— which they say has worsened the liquidity crisis.

“The crises from cash liquidity are on the top burner and have reduced GenCos’ ability to continue to perform their obligations,” he said.

Further compounding the issue are operational costs denominated in U.S. dollars and limited access to forex.

“The importance of a specialised window or stable dollar allocation option for the GenCos cannot be overemphasised,” Bello said.

GenCos added that they were demanding urgent government action, including full settlement of outstanding invoices, reprioritization of the waterfall payment structure, and guarantees backed by institutions like the World Bank and AfDB.

“There is a need for a coordinated approach by all stakeholders to address the liquidity issue realistically and sustainably. This request requires urgent attention,” he added.

The Minister of Power, Adebayo Adelabu, has yet to respond to the matter as of the time of filing this report.

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Uzodimma to Editors: You should be held accountable for what happens to Nigeria

“The narratives you shape between now and the election will determine whether Nigerians approach 2027 with hope or cynicism, with trust or suspicion, with a sense of shared stake or through a tribal lens.”

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Senator Hope Uzodimma, the Governor of Imo State, says the Nigerian media industry should be held accountable for what’s happening in the country and to its citizens, both positively and negatively.

“Your reports and comments paint a picture of tomorrow. Therefore, the picture you paint of 2027 is what Nigerians should expect,” said Uzodimma.

In a keynote address , he delivered today during the 21st edition of the All Nigerian Editors Conference in Abuja.

Uzodimma, critique the  theme, ‘Democratic Governance and National Cohesion: The Role of Editors,’ and a sub-theme: ‘Electoral Integrity and Trust Deficit: What Nigerians Expect in 2027,’ said : I will not let you escape accountability for electoral integrity, trust deficit, and what Nigerians expect in 2027.

Here is why.  If you have a role to play in “Democratic Governance and National Cohesion,’ then you also have a role to play in ‘Electoral Integrity and Trust Deficit.’  

Without electoral integrity, there can be no democracy. Electoral integrity begets democracy, and democracy begets good governance, and good governance fast-tracks the exorcism of trust deficit.

In all of these, your role as facilitator, amplifier, or catalyst is key.

“Your reports and comments paint a picture of tomorrow. Therefore, the picture you paint of 2027 is what Nigerians should expect.”

He emphasised that what editors actually do is akin to a pastoral duty.

“You decide what becomes urgent and what disappears.

You choose the lens through which millions of Nigerians see their country, their leaders, and each other.

“That is how the media is structured. A policy shift is either “Government U-Turn” or “Strategic Adaptation.”

A land border closure is either “Economic Protectionism Impoverishing the People” or “National Security Imperative.” Same facts, different frames. Entirely different public perception.,” he said.

He added: ” You are not spectators in 2027. You are active participants. You are catalysts and facilitators, whether r you acknowledge it or not.

The narratives you shape between now and the election will determine whether Nigerians approach 2027 with hope or cynicism, with trust or suspicion, with a sense of shared stake or through a tribal lens.”

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Editors demand 10-year corporate tax relief for the media industry

The President of the NGE, Mr Eze Anaba, who made the call on behalf of the media organisations, lamented that the present economic realities in the country have put the media in distress.

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•President of the NGE, Mr Eze Anaba

The Nigeria Guild of Editors (NGE) is requesting for 10-year corporate tax relief from the federal government.

The guild presented their demand on Wednesday during the opening ceremony of the All Nigeria Editors Conference (ANEC) with the theme “Democracy, Governance and National Cohesion: The Role of Editors”, held at the State House Conference Hall, Abuja.

The President of the NGE, Mr Eze Anaba, who made the call on behalf of the media organisations, lamented that the present economic realities in the country have put the media in distress.

He emphasized that the economic situation in the country has forced some media houses to shut down, while some that struggle to operate cannot pay workers’ salaries.

The NGE boss also called for tax exemption, the establishment of low-interest loans for the media, and a digital transformation and innovation fund.

Anaba further proposed a Media Freedom and Safety Charter to protect journalists from a hostile environment.

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Ethiopia wins bid to host 2027 COP32 climate summit

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•Ethiopian Prime Minister Abiy Ahmed

Ethiopia has been selected to host the 32nd United Nations Climate Change Conference (COP32) in 2027.

Richard Muyingi, chair of the African Group of Negotiators (AGN), disclosed that Ethiopia’s bid was endorsed last week after the country resubmitted its expression of interest , beating Nigeria in a closely contested bid.

“The matter was discussed by the African group in a meeting last week, and Ethiopia was confirmed as the host of COP32,” Muyingi said.

The hosting of COPs rotates among global regions, with Africa due to host the summit in 2027.

The host country for COP31 is yet to be decided between Turkey and Australia.

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