Tag: Power sector

FG moves to avert power sector collapse as Tinubu plans meeting with GenCos over N4tn debt

Emporium Reporters

The Federal Government is taking urgent steps to prevent a collapse of Nigeria’s power sector, with President Bola Ahmed Tinubu set to meet with the leadership of power generating companies (GenCos) over a mounting debt of over N4 trillion.   The planned presidential intervention followed a high-level meeting in Abuja between the Minister of Power, Chief Adebayo Adelabu, and the chairmen of GenCos, amid escalating concerns about the potential collapse of the national grid due to severe liquidity challenges.   In a statement released on Sunday by Bolaji Tunji, Special…

Declare state of Emergency in Power sector,Senate President urges FG

Emporium Reporters

President of the Senate, Ahmad Lawan on Monday called on the Executive arm of government to, as a matter of urgency, declare a state of emergency in the power sector to overcome the legion of problems stalling steady power supply in Nigeria. Lawan stated this while declaring open a one-day round-table discussion with the theme: “Addressing Nigeria’s Power Problems” organized by the Senate Committee on Power. The Senate President said the privatization of the power sector in 2005 and 2013 was a grand scheme conceived with the intention to defraud…