Power Generation Companies (GenCos) have put the Federal Government on the spot and demanded clarification from President Bola Ahmed Tinubu regarding a reported ₦3.3 trillion debt owed to operators in Nigeria’s electricity sector, according to a report published on April 6, 2026 by the Guardian newspaper via their official X page.
GenCos voiced grave concerns regarding apparent discrepancies between the industry’s reconciled data and the ₦3.3 trillion amount.
The government’s method of calculating the debt total is being questioned by the corporations, who contend that it does not match confirmed data.
GenCos contend that precise debt statistics are crucial for investment, planning, and reestablishing stability in an industry plagued by persistent cash flow issues.
They claim that the disparity erodes trust and jeopardises attempts to ensure a steady supply of electricity to households and businesses across the country.
Industry stakeholders have consistently demanded prompt disclosures and open accounting, but this most recent revelation has heightened calls for a formal explanation from the Presidency, according to the Guardian.
Nigeria’s electrical industry has long struggled with financial strain, characterised by unfulfilled commitments, insufficient revenue, and disagreements over settlement amounts.
Unresolved inconsistencies, according to GenCos, might worsen operational difficulties and further undermine investor confidence.
Experts respond to the Guardian investigation by stating that in order to dispel uncertainties and open the path for long-term reforms, it should be a top priority to reconcile government records with industry data.
It is now President Tinubu’s duty to give a thorough explanation of the ₦3.3 trillion debt claim and to convince Nigerians and operators that the nation’s power sector accounting is accurate and responsible.
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