The Federal Government on Thursday promised to pay the power generation companies (GenCos) the sum of N2trn out of the N4trn owed them.
THE WHISTLER had earlier reported that GenCos) had last week issued a warning to the Federal Government over the continued accumulation of debts now totalling over ₦4trn.
The companies announced that they are on the brink of shutting down operations due to the growing liquidity crisis in the power sector.
In a statement released under the umbrella of the Association of Power Generation Companies (APGC), the GenCos expressed deep frustration over what they described as “inadequate payment for electricity generated and consumed on the national grid.
Speaking at the sixth edition of the 2025 ministerial briefing in Abuja, the Minister of Power, Adebayo Adelabu, said the N2trn will be paid in cash and on a promissory note.
The promissory note, according to him, would allow the power-generating companies access to financial loans that would aid their generation.
The event was organised by the Federal Ministry of Information and National Orientation.
