By Atoyebi Nike
Nigeria’s power generation companies, under the Association of Power Generation Companies (APGC), have congratulated President Bola Tinubu and Nigerians on the country’s 65th Independence anniversary, while warning that the nation’s electricity sector faces a worsening crisis that demands urgent reforms.
In a goodwill message on Wednesday, APGC Executive Secretary, Joy Ogaji, described October 1 as a symbolic day for reflection on national resilience and unity. The group commended government efforts to stabilise the electricity market but stressed that the generation segment, the backbone of the power chain was under “enormous financial and operational pressure.”
“Without urgent, coordinated, and sustained action, the sector risks further deterioration with far-reaching implications for national development, economic stability, and investor confidence,” the statement read.
Nigeria, Africa’s largest economy, continues to struggle with erratic electricity despite an installed generation capacity of over 13,000 megawatts. Actual output fluctuates between 3,500MW and 5,000MW due to gas shortages, weak infrastructure, and liquidity constraints.
The GenCos highlighted persistent revenue shortfalls, mounting debts of over N5.6 trillion, inadequate gas supply, and limited access to foreign exchange as key challenges. They cautioned that operators were being pushed to the brink, warning of possible collapse if bold reforms are not pursued.
While acknowledging government interventions aimed at tackling liquidity issues and encouraging private sector investment, the association said Nigeria must confront its power realities at 65.
“Electricity remains a critical enabler of economic growth, industrial development, and improved quality of life for citizens. Unless liquidity challenges are resolved, cost-reflective tariffs implemented, and investment incentivised, the dream of stable power will remain elusive,” APGC stated.
The association urged government to prioritise sustainable reforms that can restore investor confidence and deliver reliable electricity as the nation enters its seventh decade of independence.
