Abuja, Nigeria – The Association of Power Generation Companies (APGC) has declared a state of emergency in Nigeria’s electricity sector, warning that generating plants may be forced to shut down within weeks unless the Federal Government settles outstanding debts exceeding N4 trillion.
Critical Situation:
- Total debt comprises N2 trillion for 2024 power supply and N1.9 trillion in legacy debts
- Current payments cover less than 30% of monthly generation costs
- Many plants now operating at a loss, with critical maintenance deferred
Sector Impact:
The liquidity crisis threatens to:
- Disrupt gas supply contracts
- Jeopardize workforce salaries
- Force emergency plant shutdowns
- Trigger nationwide blackouts
Market Realities:
- GenCos supply 80% of grid electricity
- Current payments only cover about 27% of actual generation costs
- Working capital exhausted across most generation facilities
Government Response:
The Ministry of Power has:
- Acknowledged receipt of GenCos’ distress call
- Scheduled emergency NESI meeting for Friday
- Initiated talks with finance ministry regarding possible intervention
Expert Warnings:
Energy analyst Tunde Ogunnaike states:
“This isn’t just about unpaid bills – it’s about systemic market failure. The current payment structure makes continuous operation mathematically impossible for generators.”
Consumer Implications:
- Potential for extended power outages
- Likely pressure for tariff adjustments
- Possible rationing of available supply
Stakeholder Reactions:
- Manufacturers Association expresses “extreme concern”
- Labor unions warn of impending job losses
- Financial institutions reviewing exposure to power sector
Next Steps:
- NESI emergency meeting outcome expected Friday
- GenCos considering formal notice of force majeure
- National Assembly plans sector hearing next week
Why This Matters:
The power sector’s collapse would:
- Cost the economy an estimated N10 billion daily
- Jeopardize Nigeria’s fragile economic recovery
- Potentially trigger social unrest
Call to Action
📢 Urgent: Should the government prioritize GenCos’ debt payment? Vote: Yes / No
📢 Share to raise awareness about Nigeria’s power emergency
📢 Follow for updates on Friday’s NESI crisis meeting
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