Index to Nigerian Newspapers

Gencos Lament N4.7tn Debt as Power Generation Hits 5,713MW

Despite Nigeria recording a recent rise in electricity generation to over 5,700 megawatts, power production companies have strongly criticized the federal government for failing to clear a massive financial debt of nearly five trillion naira. While the transmission agency celebrated this generation milestone as a notable achievement, power generation companies stated that they are severely suffering from a deep liquidity crisis and have not experienced any cash flow improvements. Meanwhile, consumer advocates have dismissed the reported milestone as shameful for a country of over two hundred million people, noting that frequent grid collapses and widespread distribution failures continue to leave millions in darkness. Compounding these challenges, the government has extended its target for universal electrification to the year 2035 due to ongoing distribution bottlenecks, prompting hundreds of major industries and manufacturing businesses to abandon the national grid entirely to generate their own independent power.

DARE, Olawin | Electric power production -- Nigeria | Punch Newspaper | Wednesday, March 05, 2025