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Gencos, Discos deny receiving N200bn payment from Nigerian govt

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Gencos, Discos deny receiving N200bn payment from Nigerian govt

Power generation companies (Gencos) have claimed they are not aware of any N200 billion paid to the power industry by the Nigerian government in the past three days.

“For the records, Gencos have not received fresh funds from anyone. What Gencos have received is payment for energy produced and consumed for 2019.

“Gencos have not received any funds of any nomenclature – palliative, stimulus or coronavirus funds. We are currently being paid the money owed for 2019. We take exceptions to our name being used to score political points,” said Joy Ogaji, Executive Secretary, Association of Power Generation Companies on Thursday.

Mele Kyari, the Group Managing Director of the Nigerian National Petroleum Corporation had on Wednesday said government had paid N200 billion to the power sector to improve electricity supply.

Ogaji noted that Gencos operators were patriotic private businessmen, further stating that Nigerians were misinformed against the operators.

Mrs Ogaji said “below are figures of our performance from February till date to buttress our assertion of making power available. Nigerians should ask why this power is not getting to them.”

According to her, available generation capacity was 9,440 megawatts in February when actual average generation was 4,629MW and stranded generation was 4,811 MW.

Available generation capacity for March was 8,310.07MW when average generation was 3,912.47MW and stranded generation was 4,405.61MW.

Read also: Pro-Buhari group faults IMF’s projections

Between 1st and 14th April, available generation capacity was 8,269.31MW, actual average generation was 3,951.23MW while stranded generation was 4,961.96MW.

A source in a power distribution company, pleading anonymity, said the N200 billion was not paid to them, adding that it was not for the planned free electricity.

“It has nothing to do with the Discos and has nothing to do with the palliative that is being proposed. Let the President pass the law. I know you have not seen any law on palliatives that has been passed.

“When they pass the law and the President signs it, then the content of it will tell us what the development is.”

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