The Federal Government says it plans to pay Power Generation Companies (GenCos) two trillion Naira out of the four trillion Naira debt owed them before the end of 2025. The Minister of Power, Mr Adebayo Adelabu said this on Thursday…
By Seun Ibiyemi The Federal Government has disclosed that plans are underway to address the N4 trillion debt owed to electricity generation companies (GenCos) for power already supplied to the national grid. This was confirmed by the Special Adviser on…
The Federal Government says plans were on the way to offset the N4 trillion debt owed the Power Generation Companies (GenCos) for electricity generated. Mr Bola Tunji, Special Adviser, Strategic Communications and Media Relations, to the Minister of Power made this…
By Seun Ibiyemi Power Generation Companies (GenCos) in Nigeria have issued a stark warning that electricity production may grind to a halt unless the federal government urgently settles outstanding debts amounting to over ¦ 4 trillion. In a statement released…
The Managing Director of the Niger Delta Power Holding Company (NDPHC) Limited, Engr. Jennifer Adighije, has called for urgent presidential intervention to tackle the severe financial crisis crippling Nigeria’s power sector. She made this appeal while hosting the House Committee…
The federal government has categorised all electricity companies, including the Generation and Distribution Companies (GenCos and DisCos), as those exempted from the payment of Withholding Tax in the country. This was contained in the new Withholding Tax regulation document signed…
The monthly shortfall in revenue remittances to the power sector stands at N35bn, the Executive Secretary of the Association of Power Generation Companies, Joy Ogaji, said on Thursday. This amounts to N420bn yearly. APGC is the umbrella body of Nigeria’s…
By Ogaga Ariemu The Transmission Company of Nigeria (TCN) has said consumers of electricity should blame Generation Companies (GenCos) for the current load shedding being experienced nationwide. This was contained in a statement made available to Nigerian NewsDirect by the…
…DisCos must develop mechanism to manage energy theft — Ogaji Ariemu Ogaga and Uthman Salami Electricity Distribution Companies and Electricity Generation Companies have disagreed over effects of theft and meter bypass on their operations The DisCos had described energy theft, illegal…
The leadership of the Nigeria Labour Congress (NLC) has rejected the denomination of domestic gas pricing to GenCos in foreign currency. The NLC President, Mr Ayuba Wabba said this in a statement made available to Nigerian NewsDirect on Thursday in…
