The Federal Government has intervened to prevent a nationwide power outage by resolving a gas supply issue that threatened electricity generation. Gas suppliers had halted deliveries to power generation companies (Gencos) due to a staggering N2.7 trillion debt.
his intervention ensured the restoration of the national grid after a collapse on Wednesday, with power generation reaching a peak of 3,624.34 MW by Thursday evening.
On Wednesday, the national grid collapsed for the 12th time this year, with power generation plummeting to zero megawatts.
However, by Thursday morning, the grid was back online, and power generation increased to 2,412.89 MW. The situation improved further by the evening, reaching 3,624.34 MW.
According to senior officials at the Ministry of Power, the Federal Government could not allow gas suppliers to cut off supply to Gencos, given that 70 per cent of Nigeria’s electricity is generated by gas-fired plants.
They noted that the government was actively addressing the gas supply issues to prevent a complete collapse of the national power grid.
Dr. Joy Ogaji, CEO of the Association of Power Generation Companies, confirmed that gas suppliers had halted deliveries due to unpaid debts. She revealed that the total debt owed by Gencos had risen to over N2.7 trillion.
Despite the debt crisis, the government is expected to step in, as it has in the past, by addressing some of the outstanding payments.
Earlier this year, the Minister of Power, Adebayo Adelabu, announced plans to begin settling power sector debts, including those owed to gas suppliers, in order to boost electricity generation capacity.
