Gencos threaten shutdown of power generation

Crisis looms in the power sector as the Generation Companies (Gencos) have threatened to shut down power generation if the federal government failed to call the Nigerian Bulk Electricity Trading Company (NBET) to order.

The Executive Secretary, Association of Power Generation Companies, Dr. Joy Ogaji, who handed down the threat on Sunday, said the GenCos are being owed over a trillion naira and it had become difficult to pay the gas suppliers

Ogaji decried the frustration the GenCos are facing from the management of the NBET, stating that the Bulk Electricity Trading Company has constituted itself to a regulator and no more a debtor to the GenCos

The Executive Secretary said that they have written relevant authorities on the demand by NBET that the GenCos would pay 0.75% administrative charges before they can access the N600 billion released to them by the Federal Government.

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