GENCOs reject FG’s offer to forfeit 50% of N5trn debt

By Obas Esiedesa, AbujaPower generation companies, GENCOs, have rejected contract offers from the Federal Government requiring them to accept 50 per cent of the total debt owed them for electricity supplied to the national grid.Read Also: (Black Market) Dollar to Naira exchange rate today, Monday November 24, 2025Described as a 50 per cent “haircut”, the proposed contracts were sent out to each power generation company, with the exception of Azura Power West Africa.The government pr