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From Isaac Anumihe, Abuja
Electricity generation companies (GenCos) have raised the alarm over unpaid bills exceeding N6 trillion, insisting they remain the most financially vulnerable players in Nigeria’s power sector.
Speaking under the banner of the Association of Power Generation Companies (APGC), the firms addressed recent allegations by the Nigerian Labour Congress (NLC) accusing them of extortion, robbery and deception.
“GenCos deserve pity and not castigation, ridicule and victimisation. Trying to smear their image with such baseless and unfounded allegations is not only unfair but misleading to the Nigerian populace: giving the impression that the sector is not regulated, and that electricity market participants can do as they please,” the APGC stated.
The association emphasised that GenCos are entitled to roughly 60 per cent of market receivables from invoiced energy bills, yet despite this, they face immense financial risks in the electricity value chain.
The Chief Executive Officer of APGC, Dr. Joy Ogaji, called the NLC’s claims “baseless” and “offensive to the professionals working tirelessly in the sector.” She said the allegations undermine vital liquidity interventions aimed at keeping Nigeria’s power supply operational.
“It may be necessary for the NLC and its co-travellers to identify the robbers and those engaged in the deception. But it certainly cannot be the GenCos who are working round the clock to ensure that electricity is generated in spite of the huge challenges associated with the business,” Ogaji explained.
The APGC further dismissed insinuations that government support for the sector is a covert effort to “settle the boys” ahead of elections, reiterating that such claims distort public perception and weaken confidence in critical interventions designed to stabilize power supply.
Ogaji highlighted that the power sector, even more than a decade after privatisation, continues to grapple with severe liquidity constraints, a reality visible to all but often misrepresented in public discourse.
“The truth is that the power sector, over a decade after privatisation, remains hamstrung by severe liquidity challenges, which is visibly clear to everyone but calls for clarification too on the issues,” she added.
The GenCos’ statement underscores the urgent need for transparency and regulatory support in an industry where unpaid bills and liquidity bottlenecks threaten the stability of electricity generation nationwide.
