The Federal Government said it is taking necessary steps to offset the N4.7tn debt owed to power generation companies to avert a possible nationwide blackout.
This came as stakeholders expressed fears that some power generation companies might be forced to shut down due to a lack of liquidity in the sector unless there is an urgent intervention by the Federal Government to clear the debts to Gencos.
However, the Federal Government said it would do everything possible to prevent Gencos from shutting down their plants as the issue is getting attention.
In an interview with our correspondent, the Minister of Power, Adebayo Adelabu, assured Nigerians that the government would take action to prevent power plants from shutting down as a result of financial crises.
Speaking through his media aide, Bolaji Tunji, the minister disclosed that efforts are ongoing to pay the power generation companies and the gas suppliers.
Faced with N4.7tn debt, our correspondent gathered that generation companies are facing challenges in running their power plants.
