The Nigerian government has approved the creation of a new entity, the Grid Asset Management Company (GAMCO), to tackle the country's persistent power challenges. The move, proposed by President Bola Tinubu, aims to fix the longstanding challenges in the nation's electricity supply, especially the transmission segment. The approval for the company's establishment was granted during …
The Nigerian Independent System Operator (NISO) has said the current poor power supply experienced nationwide is due to inadequate gas supply to thermal generating stations. In a statement released on Friday, February 27, NISO said power generation has dropped to around 4,300 megawatts (MW), causing a significant outage across the country. It said that because …
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 …
The Nigerian National Petroleum Company Limited (NNPCL) has alerted that there may be a drop in electricity generation across the country as Seplat Energy Plc, its joint venture partner, will shut down its gas production facilities for four days for routine maintenance. NNPCL said the shutdown, which will take place from 12th to 15th February …
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 …
Ethiopia has signed an agreement with Russia to build a nuclear power plant, marking a significant step in its efforts to diversify energy sources. The deal was finalized in Moscow on Thursday between Ethiopia’s Electric Power Company and Rosatom, Russia’s state-owned nuclear corporation, during a nuclear energy forum. Both sides agreed to draft a detailed …
