The Power Generation Companies (GenCos) in Nigeria have issued a warning of an impending nationwide blackout due to a staggering N4 trillion debt owed by the Federal Government.
The debt, accumulated from unpaid invoices for electricity supplied to the national grid, has placed severe financial strain on the GenCos.
In a statement, the GenCos revealed that the growing debt burden has triggered a crippling cash flow crisis, limiting their ability to maintain infrastructure and procure essential equipment.
They stressed that if urgent steps are not taken to clear the outstanding payments, they may be left with no choice but to halt operations entirely.
The warning comes amid growing concerns about the sustainability of Nigeria’s power sector.
Stakeholders are calling for immediate government intervention to avoid a collapse in electricity supply, which could have far-reaching impacts on businesses, homes, and the overall economy.
With a blackout potentially on the horizon, the GenCos are urging the Federal Government to act swiftly and honor its financial obligations to ensure stability in the nation’s power supply system.
Leave a Reply