Power generation companies in Nigeria have dismissed claims by the Nigeria Labour Congress (NLC) that electricity firms were engaged in “institutionalised extortion,” describing the allegations as misleading and harmful to efforts aimed at stabilising the country’s fragile power sector.
The response came in a statement issued on Wednesday by the Chief Executive Officer of the Association of Power Generation Companies (APGC), Joy Ogaji.
Ogaji criticised recent remarks by NLC President Joe Ajaero, saying they did not reflect the realities of the Nigerian Electricity Supply Industry (NESI).
“While we acknowledge the frustrations of Nigerians regarding unstable electricity supply, we must firmly reject the characterisation of the sector’s challenges as robbery and a grand deception.
Such allegations are a misrepresentation of the facts and a disservice to ongoing efforts to stabilise the power sector,” she said.
According to the APGC, power generation companies (GenCos) remain the most financially exposed segment of the electricity value chain, generating electricity that is often not fully paid for due to revenue shortfalls.
noted that outstanding unpaid invoices now exceed N6 trillion, highlighting the liquidity challenges facing the sector.
The association also rejected suggestions that proposed government financial support amounted to a political arrangement.
“We strongly refute the insinuation that proposed government support for the sector is a clandestine plan to settle the boys.
Such claims are baseless and undermine the critical liquidity interventions required to keep the lights on,” the statement added.
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Ogaji emphasised that GenCos are open to scrutiny and willing to subject their financial records to independent forensic examination if required.
“If the NLC or any other institution considers it necessary, our books are available for any form of investigation.
What is important is to identify the real causes of the sector’s challenges and work collaboratively toward sustainable solutions,” she said.
The APGC urged organised labour to engage constructively with stakeholders, warning that inflammatory rhetoric could discourage investment and worsen electricity shortages.
The development follows recent NLC accusations that electricity firms exploit Nigerians through tariff adjustments and alleged hidden subsidies.