• Total blackout looms as power companies lament enormous debt

    Total blackout looms as power companies lament enormous debt

    Nigeria may be plunged into total blackout as power generation and distribution companies say over N400bn debt owed them are stifling their operations.

    While GENCOs’ debt is put at over N300bn, DISCOs have complained of being owed about N100bn by customers.

    With such a huge debt burden, the power firms said they lack the funding required for their operations, including the purchase of equipment and spare parts.

    The Executive Secretary, Association of Power Generation Companies, Dr. Joy Ogaji, said, “The debt is over […]