GenCos Report 95% Payment Performance in Q1 2026

In the first quarter of 2026, Nigeria's Power Generation Companies (GenCos) achieved a payment performance of 95% from domestic bilateral customers, who remitted N5.82 billion out of N6.12 billion billed for ancillary services and direct electricity sales. The Nigerian Electricity Regulatory Commission's report indicated that domestic bilateral customers made cumulative payments of N5,816.28 million against invoices totaling N6,122.35 million, leaving an outstanding balance of approximately N306 million.

This quarter saw an increase in invoices issued to domestic bilateral customers from N4.17 billion in Q4 2025 to N6.12 billion, a rise of about 46.7%. Remittances also grew significantly from N3.51 billion to N5.82 billion, marking a 65.5% increase.

The direct electricity supply agreements with these customers have become crucial for sustaining operations as GenCos face a liquidity crisis exacerbated by unpaid government subsidies and market payment shortfalls, which were at 39% in 2025.