REVEALED: 11 GENCOS Have A Debt Of N36.8bn — Just For April 2018 Alone

Twenty-four companies submitted an invoice of N50.9 billion for power generated in April and received only N14.12 billion, just 27 per cent of their invoice for the month in view.

Figures from the Nigerian Bulk Electricity Trading (NBET) LTD show that the 11 distribution companies have a debt of N36.8 billion.

Ughelli Transcorp in Delta State generated N7.7bn for 15.2 per cent of grid-produced electricity, but received just N2.14bn, representing 27 per cent of its due payment. Egbin Power Station in Lagos generated 13.3 per cent of energy in April and got N1.87bn from its N6.78bn invoice.

The rest are:

Agip Okpai plant in Delta, N1.1bn out of N4.1bn invoice, eight per cent of grid output;

Geregu Gas in Kogi State, N1bn out of N3.79bn invoice, 7.45 per cent of grid output;

Kainji hydropower GenCo, N642m out of N2.3bn invoice, 4.55 per cent of grid output;

Jebba hydropower GenCo, N524m out of N1.89bn invoice for 3.72 per cent grid output;

Shiroro hydropower GenCo, N461m out of N1.66bn invoice, 3.27 per cent for grid output;

Geregu NIPP, N497m out of N1.79bn invoice for 3.52 per cent of grid output;

Odukpani (Calabar) NIPP, N476m out of N1.71bn for 3.37 per cent of grid output;

Olorunsogo (Ogun) NIPP, N236m out of N852m invoice for 1.67 per cent of grid output;

Omotosho (Ondo) NIPP, N355m out of N1.28bn invoice;

Sapele (Delta) NIPP, N509m out of N1.8bn invoice;

Ihovbor (Benin) NIPP, N279m out of N1bn invoice;

Gbarain (Bayelsa) NIPP, N149m out of N538m invoice;

Sapele GenCo, N116m out of N419m invoice;

Afam IV-V (Rivers) GenCo, N120m out of N434m invoice;

Olorunsogo GenCo, N741m out of N2.6bn;

Omotosho GenCo, N782m out of N2.8bn invoice;

Ibom Power, N186m out of N674m invoice;

Rivers IPP, N395m out of N1.42bn invoice;

Trans Amadi GenCo in Rivers State, N11m out of N40m invoice;

Omoku in Rivers, N238m out of N859m invoice;

Shell (Afam VI) in Rivers state, N842m out of N3bn invoice.

The latest plant, Azura, generated N1.2bn worth of electricity and received N337m in payment.

The average monthly debt incurred in Nigeria’s electricity market is estimated at N45 billion, according to the Association of National Electricity Distributors (ANED).

Sahara reporters

News Reporter

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