By Etop Ekanem

The Power Generation Companies of Nigeria, GENCOs, have called on President Bola Tinubu to explain how the Federal Government arrived at the reported N3.3 trillion debt owed to operators in the country’s electricity sector.

The concern was raised during an interview where industry stakeholders questioned the basis of the figure.

Speaking during the interview, Chief Executive Officer of the Association of Power Generation Companies, Dr. Joy Ogaji said the amount being referenced does not align with reconciled figures agreed with relevant authorities.

“We need to understand how this N3.3 trillion was computed,” she said, noting that the last reconciliation exercise between GenCos and government agencies was concluded in March 2025.

Ogaji stated that while the companies acknowledge outstanding obligations within the sector, any figure presented must reflect mutually agreed records to ensure transparency and credibility.

Also speaking, a power sector expert, Dr. Ade Olaniyi emphasised the need for clarity in financial reporting within the electricity value chain.

“There must be consistency in the figures being communicated to stakeholders. Without a clear breakdown, it becomes difficult to align on any repayment framework or long term solution,” ,” he said.

The GenCos, according to the report, are requesting a detailed explanation of the debt, including legacy liabilities, subsidy shortfalls, and other contributing components.

The development comes as the Federal Government continues efforts to address liquidity challenges in the power sector, including plans to resolve outstanding debts owed to market participants.

Stakeholders maintain that resolving discrepancies surrounding the N3.3 trillion claim will be critical to restoring confidence and ensuring the success of ongoing reforms.