The Association of Power Generation Companies (APGC) yesterday rejected the allegations of extortion and phantom subsidy levelled against the body concerning the condition of the power sector by the Nigeria Labour Congress (NLC) President Joe Ajaero.

In a statement by Chief Executive Officer Joy Ogaji, the GenCos said: “We view these allegations, which include claims of ‘institutionalised extortion’ and a phantom subsidy, as a misrepresentation of the facts and a disservice to the ongoing efforts to stabilise Nigeria’s electricity supply industry.

“While we acknowledge the frustrations of Nigerians regarding the unstable power supply, we must firmly reject the NLC’s characterisation of the sector’s challenges. “To label the legitimate operations of power firms as ‘robbery’ and a ‘grand Deception’ is a simplistic and inflammatory narrative that ignores the complex realities of the industry.

“We also strongly refute the insinuation that the proposed government support for the sector is a clandestine plan to ‘settle the boys’ ahead of elections. “Such a claim is baseless, offensive to the professionals working tirelessly in the sector and undermines the critical liquidity interventions needed to keep the lights on.

“It may be necessary for the NLC and its co-travellers to identify the robbers and those engaged in the deception. “But it certainly cannot be the GenCos who are working around the clock to ensure that electricity is generated in spite of the huge challenges associated with the business.”