GenCos urge FG to pay legacy power debts

Association of Power Generation Companies (APGC)

The Association of Power Generation Companies (APGC) has urged the Federal Government to pay up all legacy power generation debts.

APGC also lauded the Nigerian Bulk Electricity Trading Plc (NBET), for the improvement in debts payment for their generated energy.

APGC which is the umbrella body for the power Generation Companies (GenCos), in a statement by the Executive Secretary, Dr Joy Ogaji, also said it has appointed Mr Omatseyin Ayida as its Board of Trustees Chairman at the 3rd Annual General Meeting of the association held recently.

Ayida who represents Mainstream Energy Solutions Limited (MESL) on the board takes over from Mr Emmanuel Nnorom, the representative of Transcorp Power Limited after four years.

Nnorom has also been replaced on the board by the President/CEO of Transcorp, Mrs. Owen Omogiafo. Commenting, Nnorom thanked APGC for the confidence it had in him.

“As an association, there are immediate challenges we must tackle. For instance, we appreciate the recent improvement in payment by NBET of money owed us and ask that such improvement remains consistent while other outstanding legacy debt equally owed our members be paid to enable them meet funding obligations critical to their ability to stay operational,” he said.

The new board chairman, Ayida said, “I will build on his successes and maintain our members’ commitment to supporting Nigeria’s development by generating much-needed power for the country.”

He called on the appropriate authorities and stakeholders to ensure improvements in the transmission and distribution infrastructure in the country for improved supply to Nigerians.

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