Nationwide Power Outage Possible as Electricity Firms Demand N4 Trillion from FG

Nationwide Power Outage Possible as Electricity Firms Demand N4 Trillion from FG

Nigeria may be on the brink of a nationwide blackout as electricity generation companies (GenCos) threaten to shut down operations over unpaid debts totaling N4 trillion.

In a statement issued on Monday, Colonel Sani Bello (Retired), who chairs the Board of Trustees of the Association of Power Generation Companies (APGC), revealed that the federal government owes N2 trillion for power supplied in 2024 alone, in addition to an existing N1.9 trillion backlog.

According to the GenCos, they currently receive less than 30 percent of payments due for electricity fed into the national grid, a situation that has left them financially crippled and struggling to continue operations.