The Association of Power Generation Companies (APGC) has dismissed reports claiming that N2.8 trillion represents a newly verified and final settlement of legacy debts owed to electricity generation companies, describing the assertion as inaccurate and misleading.
In a statement titled “APGC Position on Misleading Reports Regarding GenCos’ Debt Reconciliation,” issued Monday in Abuja, the association’s Chief Executive Officer, Joy Ogaji, said the N2.8 trillion figure did not emerge from any officially concluded reconciliation process and challenged those behind the claim to disclose how the amount was computed.
The reports had cited unnamed Presidency sources who claimed that Bola Ahmed Tinubu approved N2.8 trillion as the Federal Government’s verified liability for accumulated electricity subsidies dating back to 2010, a position APGC strongly refutes.
