The board’s chairman, Col. Sani Bello , said this in a statement in Abuja.He said: “GenCos are currently owed over N2 trillion for power they generated, put unto the national grid, and consumed by end users.”
Warning the government on the consequence of refusing to pay the debt, the GenCos boss called for a fast-tracked action to avert national security challenges. He added that the huge debt outlay was inhibiting GenCos’ ability to meet their obligations to lenders, Operation and Maintenance , operations, necessary maintenance, spare parts procurements, and employee-related obligations, among others.
Source: Loan Digest (loandigest.net)
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