Power generation companies (GenCos) have raised the alarm over what they describe as an unsustainable ₦6 trillion debt crippling the Nigerian power sector.
Speaking at the 10th anniversary of the Association of Power Generation Companies (APGC) in Abuja, industry players warned that the growing debt could collapse the national grid if urgent action is not taken.
The Executive Secretary of APGC, represented by energy expert Dr. Bello, said operators have continued to sustain power generation despite mounting financial constraints, gas shortages, and regulatory bottlenecks.
“Despite these constraints, power generation companies have continued to make the necessary sacrifice and have kept the national grid running. Their commitment despite regulatory hurdles, gas supply constraints, and liquidity shortfalls is very commendable,” Bello said.
He called for stronger collaboration among key stakeholders — including the Ministry of Power, NERC, NBET, TCN, gas suppliers, and distribution companies — to restore liquidity and confidence in the sector.
“We must push for policies that are consistent, transparent, and investor-friendly; policies that enable innovation and sustain power generation investments. The success of the GenCos is Nigeria’s success, because no nation can industrialize or prosper without reliable electricity,” he added.
Also speaking, the Managing Director of Mainstream Energy, Lamu Audu, operators of the Kainji, Jebba, and Zungeru hydro plants, revealed that his company alone is owed over ₦600 billion.
Audu cautioned that the entire power sector risks collapse if the huge debts are not urgently settled, urging the Federal Government to intervene immediately to protect Nigeria’s electricity infrastructure.
