FG debt, gas shortage cripple operations of 191MW Ibom Power plant

By Udeme Akpan, Energy Editor Ibom Power Company Limited (IPC), one of Nigeria’s first independent State-owned power plants, lost nearly a full year of electricity generation in 2025/2026 after a prolonged gas supply crisis crippled operations at its 191-megawatt power plant, highlighting the deepening liquidity challenges across the country’s power sector.

He said resolving Nigeria’s power supply challenges required a coordinated action to restore liquidity in the electricity market, guarantee reliable gas supplies, strengthen transmission infrastructure and enforce greater financial discipline across the value chain including massively increasing the meter installation scheme to ensure energy supplied and used is fully paid for by allHe further criticised the electricity market settlement system, saying generation companies currently receive only about 30 to 40 per cent of their monthly invoices, usually after waiting around 60 days, while there is no certainty on when the outstanding balance will be paid.