The Association of Power Generation Companies (APGC) has criticized its exclusion from the Federal Government’s ongoing debt verification and reconciliation process, which aims to address more than N4 trillion owed to power producers in the Nigerian Electricity Supply Industry.
In a letter dated September 24, 2025, and signed by Chief Executive Officer Dr. Joy Ogaji, the APGC said the inter-ministerial committee handling the exercise does not adequately involve GenCos, who are the direct creditors in the transaction. The letter was sent to the Acting Managing Director of the Nigerian Bulk Electricity Trading Plc (NBET), Johnson Akinnawo, in response to an earlier communication assuring stakeholders of a bond issuance plan to ease liquidity pressures in the sector.
The group acknowledged government efforts but warned that excluding GenCos could undermine transparency and fairness. It sought clarification on four key issues: the formal role of GenCos in the process, the mechanism for submitting and verifying documentation, the timeline for completion, and the cut-off date for eligible debts.
“Our concern is that this process, as currently constituted, appears to exclude the direct participation of the GenCos, who are the actual counterparties and creditors to the debt under consideration,” the APGC wrote.
Beyond debt concerns, the association issued a broader warning on Wednesday, stressing that the power sector is at a “critical crossroads.” In a statement marking Nigeria’s 65th Independence anniversary, the group said unresolved debts, operational hurdles, and weak government support risk worsening electricity supply challenges, with severe consequences for economic growth, investor confidence, and national development.
