Power Crisis Deepens As GenCos Shut Down
Nigeria’s power generation companies (GenCos) have shut down operations as a growing debt burden of about N6.8 trillion cripples the sector.
Industry operators say the crisis has made it difficult to maintain equipment, secure gas supplies, and meet basic running costs, forcing several plants offline.
The development threatens electricity supply nationwide, with fears of worsening outages across homes and businesses.
Stakeholders warn that without urgent government intervention, the situation could deepen, affecting the entire power value chain-from generation to distribution.
The debt is linked to long-standing issues in the sector, including unpaid subsidies, liquidity shortfalls, and challenges in cost recovery.
Experts say resolving the crisis will require coordinated action between the Federal Government, regulators, and market operators to restore stability and ensure consistent power supply.
