The Federal Government has inaugurated a committee to resolve the long-standing debts owed to Power Generation Companies (GenCos) and to establish sustainable payment systems that will prevent future accumulation.
Permanent Secretary of the Ministry of Power, Mr. Mahmuda Mamman, announced this in Abuja during the 10th Anniversary of the Association of Power Generation Companies (APGC), themed “A Decade of Powering Progress, Driving Nigeria’s Energy Transformation.”
Mamman, represented by Mrs. Evangeline Babalola, said President Bola Tinubu had approved the formation of the committee to address both existing debt obligations and the sector’s liquidity challenges.
“The committee’s mandate goes beyond clearing arrears; it focuses on ensuring long-term financial sustainability within the power sector,” Mamman said.
He commended the GenCos for their resilience despite being owed billions, noting that their operations have sustained electricity supply and kept industries running.
“You have demonstrated patriotism in the face of financial adversity,” he said. “The government recognizes your sacrifice and is determined to find a lasting solution.”
Senator Enyinnaya Abaribe, Chairman of the Senate Committee on Power, praised APGC for its leadership and advocacy, noting that the association has helped shape Nigeria’s energy policy over the past decade.
He acknowledged persistent sectoral challenges, including infrastructure gaps, gas shortages, and tariff disputes, but said progress has been achieved through sustained dialogue and reform.
APGC Chief Executive Officer, Mrs. Joy Ogaji, said the group’s decade-long advocacy has strengthened investor confidence and promoted transparency within the generation segment.
“Despite financial hurdles, the GenCos remain committed to powering Nigeria’s energy future through innovation, partnership, and policy engagement,” Ogaji said.
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