The Nigeria Labour Congress (NLC) has again criticised the demand by power generation companies (GenCos) for the payment of ₦6 trillion in outstanding debts, describing the move as a “brazen attempt to loot the public treasury.” NLC had earlier kicked against plans by the Federal Government to settle debt owed to GenCos, arguing that the …
Generation Companies (GenCos) has debunked a claim by the Nigeria Labour Congress (NLC) that the proposed measure by the Federal Government to settle power sector debts amounts to "political settlement.” GenCos said NLC’s allegation is a misrepresentation of facts. Pinnacle Daily reports that NLC recently criticised the ongoing arrangement by the Federal Government to pay …
Africa Finance Corporation (AFC) said it acted as co-financial adviser on the successful issuance of the inaugural tranche of bonds under the Federal Government of Nigeria’s Presidential Power Sector Financial Reforms Programme (PPSFRP). The corporation disclosed this in a statement issued on Tuesday, February 3. According to AFC, the first tranche of the bond, valued …
Nigeria’s electricity distribution companies (DisCos) recorded a total of ₦653.19 billion in losses in their revenue collections over 12 months. This is even as electricity billing rose by 12.9 per cent from ₦466.69 billion in the third quarter of 2024 to ₦706.61 billion in the same period of 2025. Quarterly reports released by the Nigerian …
