We’re Yet To Receive FG’s N200bn, Say GenCos

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The electricity generation companies (GenCos) have denied receiving any fresh fund from federal government in recent times.

The Executive Secretary, Association of Power Generation Companies (APGC), Dr Joy Ogaji, made this known yesterday in response to earlier reports that the federal government had approved the Sum of N200 billion, courtesy of the Nigerian National Petroleum Corporation (NNPC), for the power sector to improve gas supply and boost electricity during the COVID-19 lockdown.

The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, after meeting with the Minister of Power, Engr. Saleh Mamman, and the MD, Transmission Company of Nigeria (TCN), Mr Usman Gur Mohammed at the Ministry of Power headquarters in Abuja on Wednesday said “The federal government had made payment of N200 billllon to the power sector in the past days which he said was to ensure that the payment issues in the industry are resolved.

Ogaji said “For the record, Gencos have not received fresh funds from anyone. What Gencos have been paid is payment for energy produced and consumed for 2019.  “We are currently being paid for monies owed for 2019.

“We take exceptions to our name being used to score political points.

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Dr Ogaji with regret that with such pronouncements, Nigerians are usually misled and incensed against the operators.

She said having recognised the importance of power in a time such as this, GenCos have made adequate power available for all Nigerians, but cannot account for why the power is not getting to them.

According to February-April figures of the GenCos’ performance she obtained from the the advisory power team site and presented, between the 1st and 14th April, available generation cap. was 8,269.31MW, average generation, 3,951.23MW, while stranded generation stood at 4,961.96MW.

Meanwhile, electricity consumers under the aegis of Nigeria Consumer Protection Network (NCPN), has kicked against the continuous financial intervention of the federal government in the largely privatised power sector, to the extent of approving N200 billion again after several of such in the past that, according to them has not made much difference till date.

The national President, Kunle Kola Olubiyo who made this known in a statement yesterday said, “While we would like to commend the efforts of the Muhammadu  Buhari-led government for restoring the Demand and Supply Electricity Market, we as patriotic Nigerians however have very strong reservation for the continued Injection of subsidy funds by the federal government of Nigeria in a Sector that ought to run purely on  a well structured and well organised  Market driven Business Model.”

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