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Blackout Looms As GenCos Threaten Shutdown Over N2trn Debt

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Power Generation Companies (GenCos) are urging the Federal Government to address the N2trn electricity debt, emphasizing that 90 per cent of their monthly invoices remain unpaid.

They lamented that the issue is currently endangering the continued operation of their power generation plants hence requesting that “immediate and expedited action be taken to prevent national security challenges that may result from the failure of the GenCos to sustain steady generation of electricity for Nigerians.”

According to a statement signed by its Board Chairman on Sunday, Colonel Sani Bello (retd.), the GenCos are currently owed over N2 trillion for the power they generated, put into the national grid, and consumed by end users.

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And this is in addition to the over 1.7 trillion naira, funding gap created in the recent supplementary MYTO order 2024 without a designated fund to fill the gap.

The statement read, “Even though the supplementary MYTO order leaves about 90% of GenCos monthly invoices unmet without a bankable securitisation or financing plan, the power generated by GenCos has continued to be consumed in full without corresponding full payment.

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“The GenCos therefore called on the Federal Government and key stakeholders to urgently address the issue of inadequate payment for electricity generated by them and consumed on the national grid, insisting that the liquidity challenge threatens the continued operation.

“GenCos are of the position that the liquidity challenge threatening the continued operation of their power generation plants must be addressed urgently, and sustainably too. Besides being owed huge debts, GenCos also are operating under very harsh monetary and fiscal conditions, occasioned by the economic realities that face the country today.”

Continuing, the group said in the statement that, “The flow of money within the power industry is one of the fundamental problems preventing Nigerians from enjoying continued and sustainable improvement in electricity supply.

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“Expeditiously solving these issues would enable GenCos to meet their critical needs which would, in turn, ensure that they sustainably generate power, to enable Nigerians to have better access to reliable electricity supply. GenCos would like to re-emphasise that this request requires urgent attention.”

READ ALSO: Nigerian Arrested For Overstaying Visa In Thailand

The group stated further, “The power generated by GenCos has continued to be consumed in full without corresponding full payment, notwithstanding the commencement of the Partial Activation of Contracts in the NESI which took effect from July 1, 2022, the minimum remittance order, bilateral market declaration, waterfall arrangement, the risks of inflation, forex volatility with no dedicated window to cushion the effect of the forex impact, the supplementary MYTO order which leaves about 90% of GenCos monthly invoices unmet without a bankable securitisation, or financing plan. This situation has dire consequences for the GenCos and by extension the entire power value chain.”

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The group further reaffirmed that “GenCos are currently owed over two trillion Naira for the power they generated, put unto the national grid, and consumed by end users.

“This is in addition to the over 1.7 trillion naira, funding gap created in the recent supplementary MYTO order 2024 without a designated fund to fill the gap. This huge debt outlay is now greatly inhibiting GenCos ability to meet their obligations to lenders, O&M operations, necessary maintenance, spare parts procurements, employee-related obligations etc.

READ ALSO: Nigeria Volatile, Filled With Suffering – Obasanjo Laments 

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“The GenCos expectations of being settled through external support such as the World Bank PSRO has also been dampened due to other market participants’ inability to meet their respective distribution linked indicators (DLIs), enshrined in the Power Sector Recovery Program (PSRP). Access to forex is another problem given that major operation and maintenance needs in the generation subsector are dollarized, the importance of a specialised window or stable dollar allocation option for the GenCos cannot be overemphasized.”

The statement also quoted the group as saying, “GenCos are of the position that there is a need for a coordinated approach by all stakeholders in the NESI to address the liquidity issue realistically and sustainably in the power sector so that Nigerians can have access to reliable electricity supply.

“In the light of the severity of the issues highlighted above, the GenCos are
requesting that immediate and expedited action be taken to prevent national
security challenges that may result from the failure of the GenCos to sustain steady generation of electricity for Nigerians.

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“GenCos liquidity challenges are further worsened by the various policies introduced such as the payment waterfall in the NESI, which deprioritizes payment to GenCos”.

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UNIMAID, Federal Polytechnic Matriculate 82 Degree Students

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University of Maiduguri (UNIMAID) in affiliation with the Federal Polytechnic, Bauchi has matriculated 82 students into the degree programmes across five courses.

Speaking during the matriculation ceremony at the Federal Polytechnic Bauchi on Tuesday, Professor Muhammad Laminu Mele, the Vice chancellor, University of Maiduguri, charged the matriculated students to strictly adhere to the rules and regulations guiding the two institutions to enable them achieve the set objectives.

The VC, who was represented by Professor Muhammad Ahmad Waziri, Deputy Vice Chancellor Academic Services, warned that any student or group of students trying to breach the peace of the two institutions would face the full wrath of the law.

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READ ALSO:NEDC Hands Over Mega School To Bauchi Govt

The Don further assured that the University and its affiliated institutions would continue to make easy access to higher quality education to the teeming population across the country.

In a remark, the Rector of the Polytechnic, Alhaji Sani Usman, said they were affiliated with the university to pursue academic excellence, describing the affiliation as a huge pillar in the education reforms.

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READ ALSO:Bauchi Govt, UNICEF Strengthen Education Platforms To Improve Learning Outcomes

The Rector, who was also represented by Dr. Dalhatu Saidu, the Deputy Rector of the Polymeric, commended the university of Maiduguri for not only improving the UNIMAID’s conducive learning environment but expanding the horizon to different higher institutions of learning across Nigeria.

He therefore advised the newly matriculated students to pursue knowledge, to interact freely with the Polytechnic staff, be vigilant and be a brother’s keeper, adding that this would help to achieve the desired objectives.

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The affiliated courses included BSc Mass Communication, BSc Accountancy, BSc Public Administration, BSc Business Administration and BSc Banking and Finance respectively.

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Trouble Looms As Egbesu Group Drags FG To Court Over Resource Control, Others

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Group known as Supreme Egbesu Assembly (SEA) has dragged the Federal Government and the National Assembly to a Federal High Court, Yenagoa, over failure to create additional 24 Local government councils in Bayelsa State as the need for Ijaw to control natural resources in its territory.

The Originating Summons marked: FHC/YNA/CS/63/2026 was filed on Tuesday April 21, 2026 by the plaintiffs including; Felix Tuodolo, Weri Digifa, Ebi Waribigha, Kabowei Akamade, Rosebella Jackson, Thomas Jacklloyd, Primrose Kpokposei, David Imole and Welman Warri at the Federal High Court Yenagoa.

Joined as defendants in the suit are the National Assembly, the Clerk of the National Assembly and the Attorney General of the Federation.

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In the court documents, the Egbesu Assembly premised their action on the alleged failure of the federal government particularly the National Assembly to deliberate, approve and amend the relevant provisions of the 1999 Constitution (as amended).

This, according to them, is to allow for resource control as well as the creation of additional LGAs in the state to fulfil the requirements in line with the Constitution.

READ ALSO:FG Bans Unauthorized Use Of Ambassador Title

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The group is therefore seeking, among others, the amendment of the constitution by the National Assembly to allow for the right to resource control.

The Supreme Egbesu Assembly described the suit action as a promise kept.

Mranwh, In a press statement announcing the institution of the lawsuit on Tuesday, the Egbesu Assembly recalled that, on 12th February 2026, it wrote to both the Federal Government and the National Assembly wherein its gave a 21-Day ultimatum for the duo to respond to the age-long demands for resource control and creation of additional LGAs or face a lawsuit.

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The statement partly reads: “Recall that on 12th February 2026, we did inform you that we have written to the National Assembly and the federal government on the need for the creation of an additional 24 Local Government Areas in Bayelsa State as well as the control of our God-given natural resources in Ijaw territory.

“We promised that if the National Assembly and or federal government did not respond to these age-long demands, we were going to seek legal actions to address our demands.

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We gave a time frame of twenty-one days for them to respond to us—we got no response!

“Today the Supreme Egbesu Assembly (SEA) has kept to its promise.

“We instituted an action at the Federal High Court Yenagoa against the National Assembly and the Federal Government after the expiration of the 21 days. Today we were in court for the first hearing of both cases.”

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According to the group, creation of additional local government areas for Bayelsa is as old as the creation of the State itself.

The SEA maintained that “there is nowhere in any democracy where a state is limited to just 8 LGAs: more pathetic is the fact that Bayelsa State is an oil bearing State.

“Bayelsa State presently has twenty four Rural Development Authorities (RDA) which can be easily converted to Local Government areas thereby making the State eligible to participate in the sharing of allocation and the development of their areas for the purpose of justice and equity.

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Gentlemen, we wish to inform you that our suit on Resource Control is a revival of our age long agitation.”

The group further stated that Nigeria can no longer operate a system where contributors to the national coffers are not in charge of their resources.

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The group added that the lawsuit is therefore for the Ijaw people.

The Ijaw Nation must be free from all economic strangulation carried out against them by successive Governments,” they added.

The SEA called on all Ijaws to be steadfast and resolute, and continue to support the process by attending all court sessions, stating that “your solidarity is very vital at this point of time in our history. “

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The group also called on other Ijaw organizations, communities, Niger Delta people, organizations and all people of goodwill “to join in the march to control and manage our despoiled and mismanaged natural resources.”

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BREAKING: Tinubu Sacks Wale Edun, Dangiwa As Ministers

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President Bola Tinubu has approved a minor reshuffle of the Federal Executive Council, removing the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Minister of Housing and Urban Development, Ahmed Dangiwa, from their cabinet positions.

Special Adviser, Media and Publicity to the Secretary to the Government of the Federation, Yomi Odunuga, said the development was contained in a memo signed by the
Secretary to the Government of the Federation, George Akume.

According to the memo, Taiwo Oyedele has been appointed as the new Minister of Finance and Coordinating Minister of the Economy.

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Also appointed is Dr. Muttaqha Darma as Minister-designate for Housing and Urban Development.

READ ALSO:VIDEO: I Took Over Leadership From Myself; The Late Buhari Is Me — Tinubu

The memo directed the outgoing ministers to complete handover processes to their respective successors or supervising officials.

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It stated that all handing over and taking over activities must be concluded on or before the close of business on Thursday, 23rd April, 2026.

Explaining the decision, Akume said the changes were aimed at improving coordination and strengthening delivery across key sectors of the economy under the Renewed Hope Agenda.

These changes are aimed at strengthening cohesion, synergy in governance as well as achieving more impactful delivery on the economy to Nigerians, through the Renewed Hope Agenda,” Akume stated.

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He added that President Tinubu acted in line with his constitutional powers as provided under Sections 147 and 148 of the 1999 Constitution (as amended).

The SGF also conveyed the President’s appreciation to the outgoing ministers for their service to the nation and wished them well in their future endeavours, noting that the process of cabinet reinvigoration would remain continuous.

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The statement further noted that Taiwo Oyedele was appointed as Minister of State for Finance in March 2026, while Edun was among the ministers appointed on August 16, 2023.

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