Blackout is looming from the Nigerian Electricity Supply Industry (NESI) as the Generation Companies (GenCos) have threatened to shutdown production should the Federal Government refuses to disburse the N600billion intervention fund.
The GenCos, speaking through the Executive Secretary, Association of Power Generation Companies (APGC), Joy Ogaji revealed to reporters that the GenCos have been indebted to extent that their gas suppliers no longer supply them.
This, according to her, has compelled three GenCos to shutdown their operations.
She noted that if the N600bn is not released in record time, a deliberate decision or economic forces will force the remaining GenCos to stop production.
Ogaji disclosed that the GenCos have been receiving only 15 percent of their invoices since June/July whereas nothing less than 20 to 30 percent of their invoices can sustain their operations.