Nigerian govt settles N205bn of N1.3tn debt owed to GenCos

Nigerian govt settles N205bn of N1.3tn debt owed to GenCos …C0NTINUE READING HERE >>>

The Nigerian government announced on Monday that it has allocated N205 billion from the N1.3 trillion debt owed to Generation Companies (Gencos) to enhance liquidity within the power sector.

The Minister of Power, Adebayo Adelabu, disclosed this in a statement after an oversight visit from the House of Representatives Committee on Power.

He highlighted that the significant enhancement in electricity availability in certain regions of the country was not coincidental, but rather a result of…

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