Electricity generation companies under the aegis of the Association of Power Generation Companies have warned that the Federal Government’s N501bn power sector bond is insufficient to settle the mounting N6.6tn legacy debt in the industry, cautioning that the liquidity crisis could trigger a nationwide blackout if left unresolved.
The Chief Executive Officer of the association, Dr Joy Ogaji, disclosed this on Thursday during an interview on Arise Television, where she painted a grim picture of the sector’s worsening financial strain.