GenCos Reject NLC’s ‘Robbery’ Claims, Demand Audit of N6trn Unpaid Bills

The Association of Power Generation Companies (APGC) has strongly rejected recent allegations of “institutionalised extortion” and a “phantom subsidy” levelled against power firms by Nigeria Labour Congress (NLC) president, Joe Ajaero, calling them a “misrepresentation of facts” that undermines efforts to stabilise the nation’s electricity sector.
In a pointed statement signed by its CEO, Dr Joy Ogaji, the APGC dismissed the NLC’s characterisation of legitimate power company operations as “robbery” and a “grand deception.”
The group argued that such inflammatory rhetoric ignores the complex realities of Nigeria’s power industry, which continues to grapple with severe liquidity challenges more than a decade after privatisation.”
We view these allegations as a disservice to the ongoing efforts to stabilise Nigeria’s electricity supply industry,” the statement read. While acknowledging Nigerians’ frustrations over unreliable power supply, APGC insisted that power generators—known as GenCos—are working “around the clock” despite huge operational hurdles.
The rebuttal comes amid trending sector news portraying GenCos as fraudulent for demanding payment on accumulated receivables. APGC revealed that GenCos, entitled to about 60 per cent of market receivables from invoiced energy bills, are owed over N6 trillion in unpaid invoices for electricity generated and consumed.
“GenCos deserve pity and not castigation, ridicule, and victimisation,” the association stated, offering their books for “any forensic examination.”
APGC also refuted insinuations that proposed government liquidity support is a scheme to “settle the boys” ahead of elections.
“Such a claim is baseless, offensive to the professionals working tirelessly in the sector,” it said, posing rhetorical questions: “Who are the boys the NLC is referring to? Is power generation meant for boys?
Which election is the NLC talking about? What is the nexus between power generation and election?” APGC queried.