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Mutual Benefits pays ₦4.2bn insurance claims in February

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60% of employers say Nigerian graduates not job-ready

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WTO talks deadlock as Brazil blocks e-commerce duties

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FG to begin Lagos port upgrades in Q2

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Mutual Benefits pays ₦4.2bn insurance claims in February 2026

Business

Suzuki announces slash in vehicle prices nationwide

Transportation

Nigeria’s oil, gas investment tripled in Nigeria 2025 —

Oil and Gas

Fuel price surge hikes food costs in Lagos markets

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Tag: Gencos

Electricity

Blackouts: GenCos, DisCos at odds over rejected power supply

Weeks of widespread power outages in Nigeria have intensified scrutiny of the country’s electricity sector, as power generation companies accuse distribution firms of deliberately rejecting allocated electricity loads, which has resulted in significant financial losses. In an interview, the GenCos stated that while gas shortages have reduced output from thermal plants, DisCos are also refusing […]

Electricity featured

FG, GenCos clash over ₦6tn power debt reconciliation

The Federal Government and power generation companies have disagreed over the reconciliation of debts in Nigeria’s electricity market, with both sides offering differing accounts of the actual liabilities owed to the GenCos. The Minister of Power, Adebayo Adelabu, said the actual debt owed to generation companies may be significantly lower than widely reported, as ongoing […]

Why FG should reveal names of subsidy beneficiaries - NLC
Electricity

NLC rejects ₦6trn bailout for power generation firms

The Nigeria Labour Congress has rejected the proposed N6 trillion bailout for power generation companies. The union stated that repeated financial interventions have failed to improve electricity supply across the country. NLC President Joe Ajaero made this known in a statement issued on Sunday in Abuja. He called for urgent structural reforms in the energy […]

Power crisis worsens as National grid collapses again
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GenCos halt operations amid rising customer debt

Several heavily indebted Nigerian power producers have halted operations as customers fail to pay their bills, leaving the companies unable to cover equipment costs or gas supply expenses. The CEO of the Association of Power Generation Companies, Joy Ogaji, said the shutdowns reflect mounting financial pressures throughout the power-supply chain, according to Bloomberg. “We cannot […]

Business

GenCos invoices fell to N782.46bn in Q3 2025

The total invoice issued by power generation companies declined by N80.56bn in the third quarter of 2025, driven by a drop in energy offtake by electricity distribution companies, industry data shows. According to the Nigerian Electricity Regulatory Commission’s Q3 2025 report, GenCos billed N782.46bn in Q3 2025, compared with N863.02bn in the preceding quarter. The […]

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GenCos record ₦2.31tn loss from unutilised power in 12 years

Nigeria’s power generation companies have incurred losses amounting to ₦2.31 trillion over the past twelve years due to electricity that was available for production but went unused because of grid and operational limitations. Fresh data from the Association of Power Generation Companies, the umbrella body for all electricity generation firms in the country, revealed that […]

Why Nigeria needs 33,000MW for stable power supply – DisCos
Electricity featured

ICYMI: Enugu residents face 10-day blackout over TCN rehabilitation

MainPower Electricity Distribution Limited has announced scheduled power outages across Enugu metropolis from Wednesday, October 22, to Thursday, October 31, 2025. The outages will occur daily between 9 a.m. and 5 p.m. during this period. The Head of Corporate Communications at MainPower, Mr. Emeka Ezeh, made the disclosure in Enugu on Monday, according to the […]

92 million Nigerians without access to electricity - FG
Electricity

FG finalizes ₦4trn bond to settle GenCos debts

The Federal Government has finalized the implementation frameworks for a massive ₦4 trillion government-backed bonds to settle verified outstanding arrears owed to power Generation Companies and gas suppliers. This significant development was disclosed in a statement made available to newsmen in Abuja by the Special Adviser to the President on Energy, Mrs. Olu Verheijen. The […]

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FG’s debt to GenCos hit ₦1.05tn in H1 2025

The Federal Government’s debt to electricity generation companies has climbed to ₦1.05 trillion in the first half of 2025. This amount represents unpaid power subsidy obligations for the first and second quarters of the year. According to the Nigerian Electricity Regulatory Commission’s Second Quarter Report for 2025, the government accumulated ₦514.35 billion in subsidy obligations […]

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Tinubu okays ₦4tn bond to pay GenCos, gas suppliers

President Bola Tinubu has approved a ₦4 trillion bond to settle verified debts owed to power generation companies and gas suppliers, as part of measures to stabilise Nigeria’s electricity market and restore investor confidence. Minister of Power Adebayo Adelabu announced the approval in Abuja during the Expert Forum on “Uninterrupted Power: The Industrial Imperative” organised […]

Electricity

GenCos alarmed over exclusion from N4tn debt reconciliation

The Association of Power Generation Companies has expressed concern over their exclusion from the Federal Government’s ongoing debt verification and reconciliation exercise, which aims to address the N4 trillion owed to generation companies in Nigeria’s electricity sector. In a letter dated September 24, 2025, and signed by CEO Dr. Joy Ogaji, the APGC noted that […]

Electricity

Power plants crippled by grid failures, mounting debts – GenCos

The Chief Executive Officer of the Association of Power Generation Companies, Joy Ogaji, has criticised threats to disconnect generation companies from the national grid, warning that unstable transmission and persistent market failures are damaging their plants and worsening financial losses. The GenCos are also demanding regulations to ensure prompt payment of their revenues by offtakers. […]

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