GenCos shut 16 gas plants over N6.8 trillion debt, worsening Nigeria blackout

Nigeria's power generation crisis deepens as 16 of 33 gas-fired plants shut down due to N6.8 trillion debt, leaving 16 million households without electricity. Power companies cite inability to maintain equipment, secure gas supplies, and cover operational costs. CEO Joy Ogaji warns this cash flow crisis threatens national industrialization and job creation, stating 'Money for hand, light for house, gas for pipe' is critical. Affected plants include those in Lagos, Ogun, and Rivers states. The liquidity crisis mirrors earlier threats by GenCos and gas suppliers over N3.3 trillion debt. This follows recent blackouts in Abuja, Jigawa, and FCT, with communities protesting at Ikeja Electric offices.

SOURCE: https://dailypost.ng/2026/03/18/blackout-worsens-in-nigeria-as-gencos-shutdown-gas-plants-over-debt/