Nigeria Faces Major Blackout Due to ₦3.3 Trillion Debt

A significant blackout is looming in Nigeria as gas suppliers have threatened to shut down operations over an outstanding debt of ₦3.3 trillion owed by the federal government. Ogaji, during an interview, highlighted that the ongoing power outages across the country are largely linked to the mounting financial obligations within the electricity value chain.

Currently, Nigeria's electricity generation is under severe strain, with thermal power plants heavily reliant on gas struggling to secure adequate fuel for operations. The national grid was able to generate only 3,334 megawatts of electricity recently, primarily due to insufficient gas supply.

Ogaji disclosed that the total debt owed by the federal government to power generation companies has significantly increased, reaching ₦6.8 trillion as of February 2026. This debt has accumulated over the years due to a widening financial gap and monthly payment shortfalls.

In response, Minister of Power Adelabu stated that the federal government is already working to address these issues, with spokesperson Bolaji Tunji confirming collaboration with the Ministry of State for Petroleum.