The Association of Power Generation Companies (APGC) has appealed to stakeholders, including the Nigeria Labour Congress (NLC), to exercise understanding toward power generation companies (GenCos) over more than ₦6 trillion in unpaid electricity invoices, describing the companies as victims rather than culprits.
In a statement signed during the week by APGC Chief Executive Officer, Joy Ogaji, the association rejected claims by NLC President Joe Ajaero that the sector is plagued by institutionalised extortion and phantom subsidies, labeling such allegations as misleading and inflammatory.
“To label the legitimate operations of power firms as robbery and a grand deception is a simplistic narrative that ignores the complex realities of the industry,” the statement read.
The Association further highlighted that GenCos face severe liquidity challenges due to unpaid invoices, which exceed ₦6 trillion, warning that these debts threaten plant maintenance, loan servicing, and contractual obligations.
The group stressed that generation companies currently receive about 60 per cent of market receivables based on invoiced energy bills.
The association also dismissed insinuations that government interventions in the sector are politically motivated and reaffirmed its openness to scrutiny, noting, “Should the NLC or any other institution find it necessary, let it be known that GenCo books are ready for any forensic examination.”
“GenCos deserve pity and not castigation, ridicule, or victimisation. Smearing their image with baseless allegations is unfair and misleading to the Nigerian populace,” the APGC said, warning that portraying the sector as unregulated could undermine confidence in Nigeria’s electricity market framework.