Power firms reject NLC’s extortion claims and warn of sector crisis
Power generation companies in Nigeria have rejected allegations from the Nigeria Labour Congress that accuse them of “institutionalised extortion.” Joy Ogaji, CEO of the Association of Power Generation Companies, described the claims as misleading and harmful to efforts aimed at stabilising the electricity sector. She emphasised that the sector’s challenges are being misrepresented and highlighted the financial difficulties faced by power generators. The companies called for constructive engagement to address the ongoing crisis in the power sector.
What we know
- Joy Ogaji stated that the power generation companies are the most financially exposed in the electricity value chain due to unpaid invoices exceeding N6tn.
- The GenCos dismissed the NLC’s allegations as a misrepresentation and a disservice to efforts to stabilise the sector.
- The association rejected claims that government intervention funds are politically motivated, insisting they are necessary for sector sustainability.
- GenCos expressed willingness to open their financial records for independent examination if required.
- They urged organised labour to engage constructively, warning that inflammatory statements could worsen electricity shortages.
