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Darkness looms in Nigeria as GenCos threaten shutdown over unpaid N4tn debt
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.
News
Olumuyiwa Adejobi Becomes Deputy Commissioner of Police
The promotion, approved by the Police Service Commission, underscores DCP Adejobi’s exceptional service, professionalism, and unwavering dedication to the ideals of policing in Nigeria.
The Nigeria Police Force has announced the elevation of its Force Public Relations Officer (FPRO), Olumuyiwa Adejobi, from the rank of Assistant Commissioner of Police (ACP) to Deputy Commissioner of Police (DCP).
The promotion, approved by the Police Service Commission, underscores DCP Adejobi’s exceptional service, professionalism, and unwavering dedication to the ideals of policing in Nigeria.
Adejobi was first appointed in acting capacity on 16th February 2022 as a CSP and took over from then CP Frank Mba. He was later confirmed by then IGP Usman Alkali (Rtd).
DCP Adejobi has served as the image maker of the Nigeria Police Force with distinction.
Since his appointment as FPRO, he has led several strategic initiatives to rebuild public trust, improve accountability, and modernize the force’s communication channels.
DCP Adejobi studied Archaeology and Geography (Combined Honours) from the University of Ibadan.
President Bola Tinubu has approved a one-year extension for the Comptroller-General of the Nigeria Customs Service, Bashir Adewale Adeniyi. Originally set to end in August 2025, his tenure will now continue until August 2026.
According to a statement signed by Special Adviser Bayo Onanuga, the extension aims to give Mr. Adeniyi the opportunity to consolidate key reforms and oversee the completion of major initiatives, including the modernisation of Customs operations, the National Single Window Project, and Nigeria’s obligations under the African Continental Free Trade Area (AfCFTA).
President Tinubu commended Adeniyi’s leadership and expressed confidence that the extension would bolster trade facilitation, boost revenue generation, and enhance border security.
Appointed Comptroller-General in October 2023, Adeniyi recently achieved international recognition when he was elected Chairperson of the Council of the World Customs Organization, the highest decision-making body in global customs affairs.
News
Kogi Governor Commends President Tinubu over Abuja-Lokoja Road Reconstruction
The Governor also commended the Works Minister, Engr Dave Imahi for the quality of job on the road.
The Governor of Kogi State, His Excellency Alh. Ahmed Usman Ododo has commended President Bola Ahmed Tinubu for showing unparalleled commitment towards the completion of the Abuja-Lokoja road Reconstruction, saying his action has demonstrated his unwavering determination to fix the nation’s infrastructure deficit.
The Governor while inspecting a section of the road at Kotonkarfe in Kogi State said the President represents a “coalition of excellence”.
“This is our own coalition. This is what our President is doing and we are grateful to him. This is development”, he said.
The Governor also commended the Works Minister, Engr Dave Imahi for the quality of job on the road.
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