The Power Generation Companies (GenCos), have appealed to the Federal Government to settle electricity debts owned them for electricity generation to enable them remain in business.
The Power Generation Companies , have appealed to the Federal Government to settle electricity debts owned them for electricity generation to enable them remain in business.
”And consumed on the national grid, which is currently threatening the continued operation of their power generation plants. ”In the light of the severity of the issues highlighted above, the GenCos are requesting that immediate and expedited action is taken to prevent national security challenges. ”This is an aberration as it is a clear departure from existing terms of the Power Purchase Agreement ”Which NBET as buyer has contracted to purchase the available capacity as agreed under the PPA.
According to him, the importance of a specialised window or stable dollar allocation for GenCos cannot be over emphasised. The International Air Transport Association has hailed the Nigerian government for clearing 98 per cent of airlines trapped funds in the country, which the carriers had hitherto been able to repatriate.
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