{"id":117375,"date":"2025-04-14T22:46:20","date_gmt":"2025-04-14T21:46:20","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=117375"},"modified":"2025-04-14T22:46:20","modified_gmt":"2025-04-14T21:46:20","slug":"gencos-threaten-blackout-over-n4tn-debt","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/gencos-threaten-blackout-over-n4tn-debt\/","title":{"rendered":"GenCos Threaten Blackout Over N4tn Debt"},"content":{"rendered":"<div id=\"m#msg-f:1829397774103211041\" class=\"mail-message expanded\">\n<div class=\"mail-message-header spacer\" style=\"text-align: justify;\">Daniel Adaji<\/div>\n<div id=\"m#msg-f:1829397774103211041-content\" class=\"mail-message-content collapsible zoom-normal mail-show-images \" style=\"text-align: justify;\">\n<div class=\"clear\">\n<div><\/div>\n<div>Power Generation Companies (GenCos) in the country on Monday warn of an imminent nationwide blackout as unpaid debts from the Federal Government and other market operators hit over N4tn.<\/div>\n<div><\/div>\n<div>The companies say the mounting liabilities are crippling their ability to operate and threatening a total shutdown of electricity generation in Nigeria.<\/div>\n<div><\/div>\n<div>Chairman, Board of Trustees of the GenCos Col. Sani Bello (Rtd.), disclosed this to journalists in Abuja on Monday.<\/div>\n<div><\/div>\n<div>\u201cThe power generated by GenCos has continued to be consumed in full without corresponding full payment. This situation has dire consequences for the GenCos and, by extension, the entire power value chain,&#8221; he said.<\/div>\n<div><\/div>\n<div>Of the N4tn owed, N2tn is for electricity generated in 2024, while N1.9tn represents legacy debts.<\/div>\n<div><\/div>\n<div>GenCos say the 2025 national budget\u2019s N900bn allocation for the power sector is grossly inadequate to address these arrears and sustain future payments.<\/div>\n<div><\/div>\n<div>Bello described the situation as \u201ca clear departure from existing terms of the Power Purchase Agreement,\u201d adding that under current conditions, GenCos only receive about 9\u201311 per cent of their invoices, while regulatory bodies and other service providers are paid in full.<\/div>\n<div><\/div>\n<div>The GenCos also highlight the sharp decline in collection rates\u2014below 30 per cent in 2024\u2014which they say has worsened the liquidity crisis.<\/div>\n<div><\/div>\n<div>\u201cThe crises from cash liquidity are on the top burner and have reduced GenCos\u2019 ability to continue to perform their obligations,\u201d he said.<\/div>\n<div><\/div>\n<div>Further compounding the issue are operational costs denominated in U.S. dollars and limited access to forex.<\/div>\n<div><\/div>\n<div>\u201cThe importance of a specialised window or stable dollar allocation option for the GenCos cannot be overemphasised,\u201d Bello said.<\/div>\n<div><\/div>\n<div>The GenCos are demanding urgent government action, including full settlement of outstanding invoices, reprioritisation of the waterfall payment structure, and guarantees backed by institutions like the World Bank and AfDB.<\/div>\n<div><\/div>\n<div>\u201cTa there is needed for a coordinated approach by all stakeholders in the NESI to address the liquidity issue realistically and sustain. This request requires urgent attention,\u201d he added.<\/div>\n<\/div>\n<\/div>\n<div class=\"mail-message-footer spacer collapsible\" style=\"text-align: justify;\"><\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Daniel Adaji Power Generation Companies (GenCos) in the country on Monday warn of an imminent nationwide blackout as unpaid debts from the Federal Government and other market operators hit over&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":16216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-117375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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