The Federal Government has raised about ₦1.23 trillion through two series of bond issuances under the Power Sector Debt Reduction Programme in an effort to settle verified legacy obligations owed to electricity generation companies (GenCos) and strengthen liquidity across Nigeria’s electricity market. The latest Series II issuance of ₦728.979 billion, completed recently, followed the ₦501.021 …
President Bola Tinubu’s recent approval of a ₦3.3 trillion debt settlement plan has been touted as a significant move towards fixing the liquidity crunch that has choked the Nigerian power sector for years. However, the announcement has generated mixed reactions regarding its significance in the efforts towards ending the persistent blackouts that Nigerians have grappled …
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 …
The Association of Power Generation Companies (APGC) CEO, Dr. Joy Ogaji, says the debt owed to GenCos is now over ₦6 trillion due to a persistent shortfall in payment for electricity generated and supplied to the national grid. Ogaji, who appeared on Arise News Morning Show on Thursday, said power generation companies currently invoice approximately …
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 …
In a landmark move for Nigeria’s energy sector, the Federal Government has successfully issued a ₦501 billion inaugural bond to settle decade-old debts owed to Generation Companies (GenCos). The bond issuance, which closed on January 27, 2026, marks the first major tranche of the Presidential Power Sector Debt Reduction Programme (PPSDRP). The bond issuance recorded …
The Bureau of Public Enterprises (BPE) recently hinted at a plan to list two electricity distribution companies (DisCos) and one generation company (GenCos) on the Nigerian Exchange (NGX). Similarly, the Nigerian National Petroleum Company (NNPC) Limited has been nursing this idea since the state-owned oil firm transitioned into a private-driven enterprise. As desirable as their …
By Esther Ososanya The Enugu Electricity Regulatory Commission (EERC) has reduced the electricity tariff for Band A customers from ₦209 per kilowatt-hour to ₦160/kWh. The new rate takes effect on August 1, 2025. The order was issued to MainPower Electricity Distribution Ltd under EERC Order No. EERC/2025/003 titled “Tariff Order for MainPower Electricity Distribution …
