Nigeria’s Electricity Sector Plunged into Darkness by Non-Payment Issue

“Power Crisis Grips Nigeria as Grid Falters: Deep-rooted Issues Exposed
In just the second month of 2024, Nigeria faces its third grid collapse, highlighting the systemic challenges plaguing the nation’s quest for stable electricity. With a population of 200 million, Nigeria grapples with a precarious power grid exacerbated by the dominance of nine out of 22 plants, responsible for 80% of total energy production. BusinessDay’s investigation reveals that Electricity Generation Companies (GenCos) demand payment for their generated power, yet are owed substantial sums by Nigeria Bulk Electricity Trading Plc. This payment delay undermines the entire electricity supply chain, from generation to distribution, leaving consumers in darkness.”