Nigeria may experience widespread blackout soon as power generation companies have unanimously agreed to call the bluff of the Nigerian Bulk Electricity Trading Company by shutting down power production and supply.

At a briefing in Abuja on Sunday, the Executive Secretary, Association of Power Generation Companies, an umbrella body for the power firms, Joy Ogaji, said NBET’s insistence to impose a 0.75 per cent administrative charge on Gencos for payment of gas invoices was the reason for the imminent power shutdown by Gencos.

It was also gathered that the indebtedness of NBET to power generation companies had risen above N1tn.

NBET is licensed and regulated by the Nigerian Electricity Regulatory Commission to undertake bulk purchase and resale of electricity in the Transitional Electricity Market.

In September, The PUNCH reported that NBET demanded an administrative charge of 0.75 per cent from the Gencos for the payment of gas invoices on their (Gencos) behalf.

Although this was rebuffed by the Gencos, as well as the Bureau of Public Enterprises and was not approved by NERC, NBET insisted on implementing it.

Speaking to journalists on Sunday, Ogaji said, “This singular action by NBET may lead to the shutdown of power supply by Gencos, who have unanimously agreed to call the bluff of NBET.”

She said the Gencos thought that the issue had been nipped in the bud, having written to all relevant stakeholders including NERC.

Ogaji said, “It is clear from recent occurrences that NBET is not deterred. NBET has now reduced its role to blackmailing/threatening Genco investors/chairmen who have refused to concede to its illegal demand of a 0.75 per cent charge on invoices paid to gas suppliers.

“NBET has clearly threatened not to release payments due to Gencos until they accede to its request, urging them to agree for a quid pro quo with the 0.75 per cent administrative charge.”

Ogaji also stated that Gencos’ indebtedness to their gas suppliers was due to NBET’s indebtedness to power generators.

“No Genco has any outstanding gas payment that is more than what NBET owes the Genco. Put differently, NBET is indirectly charging 0.75 per cent for paying its debt to Gencos.”

According to her, NBET should take it as an assurance that the Gencos had been still for too long and were now ready, able and willing to utilise even higher and stronger contacts in the government to see this issue to fruition.

She said, “We hereby reiterate our position strongly recommending to the government and other key stakeholders that the administration of the Gencos finances reverts to the Market Operator, while NBET focuses on engagements with new entrants or intending power project developers.”

Efforts to get NBET’s reaction were unsuccessful, as calls to the firm’s Managing Director, Marilyn Amobi, rang out. A text message to her mobile line was also yet to be responded to as of press time.

SOURCE; https://punchng.com/blackout-looms-as-gencos-threaten-shutdown-over-charge/

Blackout,strike,bad government policy etc but no protest, this political charm de work truely

I don't understand. Did we ever have light?

Even though we have neverbhad good electricity since this God forbidden govt came onboard , instead of the Buhari govt to force DISCOs to buy electricity from the Gencos who have been drawing losses they are instead trying to tax them more...It's very clear the govt lacks the will to fix power

sweetonugbu:
Blackout,strike,bad government policy etc but no protest, this political charm de work truely

Damnnnnn niggarrr

It is not a political charm niggarrr

We all in Nigeria are bunch of Moda fuckkking hypocrites!

The truth of the matter my nigggar is that we are no longer interested in the development of Nigeria.
Every individual now want to get to the top and steal from the national cake

Nigeria has always been in blackout! Both in reality and our national life.

Waw

Another one!

You reading this, what are you waiting for?

Get a private IELTS tutor in Lagos, with a comparatively guaranteed one-time success at the exam. Just send a mail to editus dot ng at gmail dot com. That's the first step.
Before this country kills us.

Shutting down because of 0.75% but they can increase consumers tariff by up to 40% at once...
In the infamous words of Oshomole; FG, GENCOs, DISCOs, NERC and all their relatives in the power misarrangement should go and die!


What's tha business?

Total blackout?

when we experience total collapse of the system always.

They
*generate darkness,
*transmit darkness
*distribute darkness
*charge us for darkness
* & now threatening us with darkness,


Thunder, lightning, fire & brimstone
fire all of una for ever & ever!!

Nigeria moving from bad to worse

Not surprised, FG can't Even take care of one of the easiest basic amenities nor provide 'em.

Well, Ladies & Gentlemen, let's all get our Generators ready because it's about to go down.

Are we not in blackout already??

BASTAR.DS! FVCKING Politicians and Cabals!

We have been experiencing the black out for years now and we did not die.... If black out like make e start today we no care. Thanks

Is there lite before?

We are already experiencing the blackout already now. ..since friday no light!!!!

N-BET go deal with them like Naija- BET dey deal with Naija yootss.
But there has never been light na.
You wan make we fight ur fight for u?

Like the children of eleke the bird who told her chicks that "since the hunter has learnt to shoot without missing, bla bla bla.......... We will also fly without perching. Generators has always been our major source of electricity, we are used to it and stick to it we shall

Black Fridays
hahaha

Did we ever for once have stabled light in this Country

what is blackout?? here in Japan we don't know that.

Bawo

I thank God for the precious gift of solar power.

GENCOs, you can go and die!

At a briefing in Abuja on Sunday, the Executive Secretary, Association of Power Generation Companies, an umbrella body for the power firms, Joy Ogaji, said NBET’s insistence to impose a 0.75 per cent administrative charge on Gencos for payment of gas invoices was the reason for the imminent power shutdown by Gencos.

It was also gathered that the indebtedness of NBET to power generation companies had risen above N1tn.

NBET is licensed and regulated by the Nigerian Electricity Regulatory Commission to undertake bulk purchase and resale of electricity in the Transitional Electricity Market.

That's because NBET isn't raising enough money

Naija