Gasdebt forces Nigeria's power plants to halt supply, worsening blackouts
Electricity generation companies (Gencos) have threatened to halt gas supply to thermal plants due to a N3.3 trillion debt owed to gas suppliers, leading to persistent power outages across Nigeria. Dr. Joy Ogaji, CEO of the Association of Power Generation Companies, disclosed that the country currently generates only 3,334 megawatts of electricity, down from previous levels, because gas shortages prevent plants from operating at full capacity. The debt accumulated from 2015 to December 2024 stands at N4 trillion, with monthly shortfalls of N200 billion in 2025 adding N2.4 trillion, bringing the total to N6.8 trillion as of February 2026. Ogaji stated that gas suppliers require upfront payment for supply, and the unpaid debt is the primary reason for the ongoing darkness. Meanwhile, the Minister of Power, Adebayo Adelabu, is addressing the issue in collaboration with the Minister of State for Petroleum (Gas), though Nigerians have yet to see improvements. The power crisis coincides with fuel and diesel price surges exceeding N1,100 and N1,600 per liter, respectively, following global crude oil price increases due to the US-Israel-Iran conflict.