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Nigeria To Experience Total Blackout Over Huge Amount Owed – See How Much

According to Punch, Nigeria may be set for a total blackout as power generation as well as distribution companies say over N400bn debts are stifling their operations.
power-sector-513x350While GENCOs’ debt is put at over N300bn, DISCOs have complained of being owed over N100bn by customers.

With such a huge debt burden, the power firms said they lack the funding required for their operations, including the purchase of equipment and spare parts.

The Executive Secretary, Association of Power Generation Companies, Dr. Joy Ogaji, said:

“The debt is over N300bn that GENCOs are being owed. If the situation is not checked, there will be blackout. It is so imminent that I don’t know if most of the generation we are having now can go beyond Christmas if the payment problem is not solved. We can’t pay contractors; most of the machines are packing up.”

Ogaji then revealed that the Nigerian Bulk Electricity Trading Company Plc should be blamed for the problem, saying:

“As GENCOs, we don’t really have any direct relationship with DISCOs at the moment; GENCOs are meant to generate power and government brought NBET as a wholesaler, which takes all the power being generated by GENCOs and sells to the DISCOs. So the onus lies on NBET to collect the money from the DISCOs.

“The claim on whether DISCOs are remitting money or not should not be the problem of the GENCOs, but that of NBET. Government told us that NBET is properly capitalised and has enough money to meet all of the GENCOs’ payments. But unfortunately, NBET has not been able to do that.”

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  • Cornel Nwankwo

    This is a very big issue if not addressed immediately

  • Kenny D Osonwa

    This is story that shouldn’t be heard, Nigeria, its so shameful….

  • chika bibian

    Imagine the story…chai God help Nigeria

    • Cornel Nwankwo

      Amen oooooooo
      We need Jesus

  • I just dey laugh

    we supply Ghana Gas but i can tell you since January when i retrun from Nigeria till this minutes they have never be light out in this place even with the current proplem they have with gas shotage If my light off when i am inside my room i just know my Card need to be topup

    • Olovo Obinna

      Na so oh…na bad governance with greedy politicians we get

  • I just dey laugh

    you can’t wake anyday and hear goodnews in Nigeria always badnews what a country Imaging as old and rich Nigeria is still can send out complete 5000MW I pity the country

    • Olovo Obinna

      Power was getting little better under GEJ but everything crumble since this people came into power

      • I just dey laugh

        with the 24/7 light they promise Nigeria Buhari should be remove from that seat the pains and suffering in Nigeria is getting too much..

        • Olovo Obinna

          I tells u oh

    • chika bibian

      I tells you no goodnews

  • We are used to the black out

    • Cornel Nwankwo

      Blackout is our hobby

  • Olovo Obinna

    This country is big mess..imagine….which equipment are they buying……even with the estimated bill they give nigerians

  • Mezzy Gilbert

    Okwetu

  • WillieBravo

    Okay

  • emekachilaka

    this is not good to hear

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