Connect with us

News

Nigerian Power Generation Companies Report N6 Trillion in Unpaid Electricity Bills

Published

on

Nigerian

Nigerian GenCos report N6 trillion in unpaid electricity bills, cite liquidity challenges, reject extortion claims

adron lemon friday

Power generation companies in Nigeria, under the Association of Power Generation Companies, have disclosed that outstanding unpaid invoices for electricity supplied to the national grid have reached approximately N6 trillion.

Also read: Nigerian Breweries Revenue Surges 35% to N1.467tn in 2024

The rising debt is straining the financial capacity of the companies to invest in maintenance, fuel procurement, and infrastructure expansion.

The Chief Executive Officer of the association, Joy Ogaji, rejected claims by the Nigeria Labour Congress that the sector engages in institutional extortion, describing the allegations as a misrepresentation of the deep-rooted liquidity challenges affecting power supply.

The GenCos, which consist of more than 20 member companies, stressed that unpaid invoices are their main financial risk in the electricity value chain.

They are open to forensic audits and called for constructive engagement with stakeholders to address structural weaknesses in the sector.

Also read: Nigerian arrested in India over cocaine bust

The association warned that continued misrepresentation of the sector’s financial realities could discourage investment and worsen electricity shortages.

They emphasized the urgent need for policy actions to restore investor confidence and stabilize the market.

70 / 100 SEO Score

News

Reps Seek Federal Relief for Edo Tanker Explosion Victims

Published

on

Reps seek federal relief for Edo tanker explosion victims, urging NEMA aid, market rehabilitation and urgent repairs to the Benin-Lagos Expressway.

The House of Representatives has called on the Federal Government to provide relief materials, financial assistance and rehabilitation support to victims of the deadly petrol tanker explosion at Oluku in Ovia North-East Local Government Area of Edo State.

Also read: Wike to Dumo Lulu-Briggs: Quit Rivers Governorship Race, Back Someone Else

adron lemon friday

The lawmakers also urged the government to repair dangerous sections of the Benin-Lagos Expressway around Oluku to reduce the risk of similar disasters.

The resolutions followed the adoption of a motion of urgent public importance moved by Omosede Igbinedion, a lawmaker representing a constituency in Edo State, during plenary on Wednesday, October 21.

The Edo tanker explosion occurred on Thursday, October 15, when a petrol tanker reportedly lost control and overturned near Oluku Market, spilling fuel that later ignited and spread to nearby businesses.

According to the motion, the fire caused fatalities and serious injuries while destroying shops, stalls, vehicles, goods and other property.

The damage also left traders and their families facing substantial financial losses and the loss of their livelihoods.

Presenting the motion, Igbinedion said the incident had caused widespread hardship, with some victims losing their savings and facing mounting financial difficulties.

She also raised concerns about reports of severe burns among survivors, some of whom reportedly required emergency treatment at the University of Benin Teaching Hospital and other medical facilities.

The lawmaker said the scale of the destruction required federal intervention to complement the Edo State Government’s response.

She commended Governor Monday Okpebholo for visiting the scene and affected victims, as well as pledging to rebuild the damaged market and support traders.

However, she argued that additional assistance was necessary to provide immediate relief, restore livelihoods and help affected families recover from the disaster.

Following the motion’s adoption, the House urged the National Emergency Management Agency to assess the damage and provide relief materials, financial support and rehabilitation assistance to victims.

It also called on the Federal Government to work with the Edo State Government to rebuild the affected market and support the recovery of businesses disrupted by the fire.

The lawmakers further urged the Federal Ministry of Works and the Federal Roads Maintenance Agency to inspect and urgently rehabilitate dangerous sections of the Benin-Lagos Expressway around Oluku.

In another resolution, the House directed the Federal Road Safety Corps, the Nigerian Midstream and Downstream Petroleum Regulatory Authority and other relevant agencies to investigate the circumstances surrounding the crash, fuel spillage, evacuation efforts and subsequent fire.

The agencies were also asked to recommend preventive measures, particularly along major highways where fuel tankers operate close to markets, shops and residential communities.

The incident has renewed concerns about the dangers of attempting to collect fuel from overturned tankers. Spilled petrol can ignite rapidly, exposing people nearby to potentially fatal fires and explosions.

Also read: Wike to Dumo Lulu-Briggs: Quit Rivers Governorship Race, Back Someone Else

The House’s resolutions seek to address both the immediate needs of affected residents and the wider safety concerns raised by the disaster. Federal assistance, road repairs and a thorough investigation are expected to support recovery efforts and help reduce the likelihood of similar incidents.

56 / 100 SEO Score
Continue Reading

News

Wike to Dumo Lulu-Briggs: Quit Rivers Governorship Race, Back Someone Else

Published

on

Wike

Nyesom Wike reveals he urged Rivers NDC candidate Dumo Lulu-Briggs to quit the 2027 race and support another aspirant (more…)

72 / 100 SEO Score
Continue Reading

News

EFCC Arrests Abuja Businessman Over Alleged $120m Fraud

Published

on

EFCC

EFCC arrests Abuja businessman Innocent Ezuma over alleged $120m fraud involving a Ukrainian investor and suspected financial crimes

(more…)

adron lemon friday

74 / 100 SEO Score
Continue Reading

Trending News