Electricity Generation Companies (GenCos) says they have not been paid for their services by the Nigeria Electricity Bulk Trader in the last three months and as a result are ready to grind everything to a halt.
The situation of unsettled invoices would spell doom for the economy as operators were already considering shutting down their plants across Nigeria
According to Sunday Vanguard in Abuja, the situation of unsettled invoices would spell doom for the economy as operators were already considering shutting down their plants across Nigeria.
A source also told Vanguard that: “GenCos have not been paid a dime since the beginning of this year. Our invoices for power delivered in January, February and March have not been settled. The situation is very terrible and has become unbearable.
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“To produce power, deliver to the grid and without payment has been our experience since the beginning of 2017 and we are grinding to a halt. We just can’t continue like this.”
NAIJ.com however learnt that the presidency was aware of the development the GenCos had written the National Security Adviser on the implications of their shutting down and that even after meeting with the NSA, the situation largely remained unchanged.
The source further revealed that he is being owed N57 billion from an accumulated arrears since 2013 while insisting that the last time the company was paid for its services was in December 2016 when it got N1.6 out of a N5.4 billion invoice for that month.
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However, when contacted, Henrietta Ighomrore, the spokesperson for the NEBT said GenCos are paid for electricity generated and put on the grid based on money collected from the Distribution Companies (DisCos), explaining that her organization does not keep such funds once paid by DisCos.
She insited that DisCos paid for the electricity they received in the month of January only last week and that arrangements were on to pay the GenCos shortly.
Meanwhile, a Nigerian engineer, Obayagbona Emmanuel Imafidon, has revealed that he has invented a power-generating device that can solve the problem power outage in the country.
In an interview with Guardian, the graduate of Electrical Engineering from the Institute of Management and Technology in Enugu said he could generate power from thunder lightning and that he has been working on it since 2006.
Meanwhile, in this video by NAIJ.com, a man harshly criticizes the Nigerian government while calling for their mass burial.
