Punchng reported that Nigeria might be in trouble Because of her huge dept, according to them there might be a total blackout as power generation as well as distribution companies say over N400bn debts are stifling their operations.

While GENCOs’ debt is put at over N300bn, DISCOs have complained of being owed over N100bn by customers.

With such a huge debt burden, the power firms said they lack the funding required for their operations, including the purchase of equipment and spare parts.


The Executive Secretary, Association of Power Generation Companies, Dr. Joy Ogaji, said:
“The debt is over N300bn that GENCOs are being owed. If the situation is not checked, there will be blackout. It is so imminent that I don’t know if most of the generation we are having now can go beyond Christmas if the payment problem is not solved. We can’t pay contractors; most of the machines are packing up.” continue http://www.possitt.com/2016/11/because-of-huge-amount-owed-by-nigeria.html

400BN and we nor dey use light

Nigerians with everything for free mentality