The Federal Government has assured Nigerians that it is taking all necessary steps to prevent a potential nationwide blackout, which could be triggered by the N4.7tn debt owed to power generation companies (Gencos).
Minister of Power, Adebayo Adelabu, emphasized that the government is aware of the pressing challenges facing the sector and is working to ensure that power generation companies do not shut down their plants due to financial constraints. Speaking through his media aide, Bolaji Tunji, Adelabu confirmed that urgent efforts are underway to settle the debts owed to the Gencos and gas suppliers.
The N4.7tn debt has placed immense pressure on the power generation companies, making it difficult for them to operate effectively. Stakeholders in the sector have raised concerns that without immediate intervention, some companies may be forced to halt operations, leading to severe power shortages across the country.
However, the Federal Government remains committed to resolving the crisis and preventing any disruptions in electricity supply. The minister assured that measures are being put in place to address the liquidity issues and ensure that the power plants continue to function.
While efforts are ongoing, it is clear that swift action is needed to avoid an impending crisis that could affect millions of Nigerians.
