The Association of Power Generation Companies (APGC),has lamented the generation segment of the power value chain stands at a critical crossroads sixty years after the country’s independence.
In an Independence celebration statement on Wednesday,Joy Ogaji,the Executive Secretary of the group,disclosed that GenCos are under enormous financial and operational pressure.
She added:” Without urgent, coordinated, and sustained action, the sector risks further deterioration, a situation that would have far-reaching implications for national development, economic stability, and investor confidence.”
She said Nigeria has made significant progress over the decades, and the power sector continues to be at the heart of that journey.
Electricity,she stated, remains a critical enabler of economic growth, industrial development, and improved quality of life for citizens.
She commended the Federal Government for initiatives aimed at strengthening the power sector, such as interventions that seek to address market liquidity, encourage private sector investment, and support greater access to electricity for households and businesses.
According to her, October 1st remains a defining moment for Nigerian to celebrate freedom, reflect on the journey as a nation, and renew their hope for a brighter future.
She added:”It is also a time to acknowledge the resilience and determination that has kept us united despite daunting socio-economic and political challenges.
“As we commemorate this milestone, we honour the sacrifices of our heroes past who fought for our liberty and we recommit ourselves to building a nation that truly delivers on the promise of independence.”
