Nigeria's Power Situation Worsening Because We Are Owed N1.6 Trillion –Power Generation Companies | Sahara Reporters

  • 📰 SaharaReporters
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 63%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

The Gencos have exhausted all their borrowing sources, as the Central Bank of Nigeria (CBN) warned the banks to desist from lending money to them.

The Association of Power Generation Companies has explained that the power supply situation in the country is worsening because they are being owed N1.644 trillion since 2013.

She stated, “If you give us gas, provide forex to carry out maintenance. I have told you most of the units are down and they need money to fix them. She said claims that the Gencos have the capacity to generate 9,000MW are not accurate, as inspections by NBET had shown that the so-called capacity does not exist.

However, Ogaji insisted that the illiquidity caused by the huge sums owed the Gencos by NBET had continued to frustrate them and render them incapable of meeting their obligations. Ogaji listed foreign exchange as another challenge faced by the hydroelectric power plants, whose concession fees, she maintained were “dollarised.”

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 9. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

This country needs supernatural revivial

All the money we are paying, where them Waka go. We still de owe for light we no de use. Wonderful Nigeria

What have they been doing with all the tarrifs being collected?

Very good.the zoo Nigeria is dead no going back..Biafra is our demand..no Biafra nothing else

Oh my God,it's like no one is ruling,just looting. Nigerians are really on their own at this point. So sad 😒😒

Nonsense, why are we still paying more without power supply than when there is power. This kind of shitty things can only happen in Nigeria. Very annoying

So all the money we had been paying is for what? What happened to all the money

Useless people, but you can give other countries power

I wonder wetin Dem dey use all the nepa bill wen people dey pay do

Lie

Incredible

You deserve to lose your licenses even as i text.

The whole Nigeria is gradually shutting down before our eyes.

Up APC

Hmmmmm. I'm just short of words for my dear country. We produce, yet we owe

How... Are we not paying for the light again.... Everybody deh look for how them go collect.... The 1.6 trill like say light deh 24hrs... Abeg all of una pack... This is the worst I have seen Nigeria after the military

Abi una too go go on strike?

Thieves! Thieves will bill u 15k+ despite that your transformer has been faulty for over 3 weeks. Thank God for prepaid meters. Otherwise, I'd still be in their bondage. They claimed money paid to PHCN for meters were not credited to them, yet they claim ownership of d debts

We no fit pay am finish. Naso e go be, make una maintain.

Useless and criminal Ikeja Electric

Hello everyone I make and sell footwear your RT n patronage will go a long way for my brand whatapps no:08090916669 Price:1st 12 2nd 12,500 3rd 22k

Who dey owe una? Discos!

So...are consumers being blackmailed for the debt ?

Wahala for those werey that promised uninterrupted power supply in 2015.

🤦🏿‍♂️

Catalyst4eva

Issokay

I forget when last I see light

Ireland Ireland Latest News, Ireland Ireland Headlines