The Chief Executive Officer of APGC, Dr (Mrs) Joy Ogaji
The Association of Power Generation Companies (APGC) has reiterated that the outstanding debts owed to the GenCos have cumulatively hit over N6 trillion while insisting that the scathing remarks by the President of Nigerian Labour Congress (NLC), Joe Ajero, was a reflection of his ignorance of the sector’s challenges.
While rebuffing Ajero’s claims about the generation subsector of the power sector, APGC stated: “It is a fact that GenCos, who are entitled to about 60% of the market receivables following their invoiced energy bills, face the greatest risk in the electricity value chain with an outstanding unpaid invoice of now over six
trillion (N6trn) naira.”
The Chief Executive Officer of APGC, Dr (Mrs) Joy Ogaji, who made this clarification in a statement, maintained that the books of the GenCos are open for scrutiny and challenged the NLC President to prove his wild allegations.
OPTIMUM TIMES reports that Ajero had while speaking at the National Union of Electricity Employees’ (NUEE) Annual Conference of Women and Youth in Abuja, alleged that the electricity subsidy claim remains a “phantom”.
“We question the rationale behind the Federal Government’s alleged plan to pay between 2 and 3 trillion Naira to the GENCOs. We describe it as a clandestine move to “settle the boys” as the 2027 elections approach.
“We insist that there is no justification for such a massive bailout to private firms that have failed to deliver”, Ajero said.
But the CEO of APGC insisted that such claims by the NLC President amounted to gross “misrepresentation of the facts and a disservice to the ongoing efforts to stabilise Nigeria’s electricity supply industry.”
According to her, “While we acknowledge the frustrations of Nigerians regarding the unstable
power supply, we must firmly reject the NLC’s characterisation of the sector’s challenges.
” To label the legitimate operations of power firms as “robbery” and a “grand deception” is a simplistic and inflammatory narrative that ignores the complex realities of the industry.
“We also strongly refute the insinuation that the proposed government support for the sector is a clandestine plan to “settle the boys” ahead of elections.
“Such a claim is baseless, offensive to the professionals working tirelessly in the sector and undermines the critical liquidity interventions needed to keep the lights on.”
She urged the NLC President to justify his claims saying, “It may be necessary for the NLC and its co-travellers to identify the robbers and those engaged in the deception. But it certainly cannot be the GenCos who are working around the clock to ensure that electricity is generated in spite of the huge challenges associated with the business.”
She questioned Ajero on the identities of the “boys” referred to, the election talked about and to further establish the nexus between power generation and election.
“The truth is that the power sector, over a decade after privatisation, remains hamstrung by severe liquidity challenges, which is visibly clear to everyone but calls for clarification too on the issues.
“This write-up is against the backdrop of the news trending in the sector, that GenCos are fraudulent, hence require auditors and legal experts to investigate them for requesting their unpaid and accumulated receivables
for power/electricity generated and consumed but not paid for.
“Should the NLC and any other institution find it necessary, let it be known that GenCo books are ready for any forensic examination that they can be subjected to.
“GenCos deserve pity and not castigation, ridicule and victimisation. Trying to smear their image with such baseless and unfounded allegations is not only unfair but misleading to the Nigerian populace: giving the impression that the sector is not regulated, and that electricity market participants can do as they were pleased unchecked”, she added.
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