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GenCos Deny Tinubu Slashed Legacy Debt to N2.8trn, Call Reports Fake News

Frank

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Association of Power Generation Companies (APGC) has debunked media claims that President Bola Tinubu reduced the Federal Government’s N6.5 trillion legacy debt to GenCos to N2.8 trillion via audit, labelling it “fake news” with no official confirmation.

GenCos Deny Tinubu Slashed Legacy Debt to N2.8trn, Call Reports Fake News

Tinubu

APGC CEO Dr. Joy Ogaji, in a Monday statement, insisted no communication verifies the N2.8 trillion as a final settlement, demanding Presidency publish audit details if true.

She affirmed the N6.5 trillion stems from metered, recorded, and invoiced generation under market/bilateral agreements—not inflated figures—amid NLC tensions and supply woes.

Ogaji urged transparency to avoid misleading narratives on verifiable obligations.

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Frank
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Franklin Ugo Ndibe is a seasoned Nigerian journalist and media professional renowned for his incisive reporting and editorial leadership in the information and communications technology (ICT) sector.

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