This was according to a statement issued by the Board of Trustees Chairman, the Association Power Generation Companies, Colonel Sani Bello.

GenCos said the debt, which includes N2 trillion for 2024 and N1.9 trillion in legacy debts, is threatening the continued operation of their power generation plants.

The Nigerian government has promised to address the N4 trillion debt owed to electricity companies following threats by the firms to shut down operations.

Nigeria’s 23 electricity generation companies have issued a stark warning that they may be forced to shut down operations as a result of the deepening financial crisis plaguing the power sector. According to them, the unpaid debts, which now exceed ₦4 trillion, have made it increasingly difficult to guarantee consistent electricity supply across the country. […]

"We are not unaware of this debt arising from the federal government’s commitment on subsidy. "