Do you know why most Nigerians are complaining of worsened power outrage?

Well, if you missed the gist, here’s what has been trending since this week.

The Chief Executive Officer of the Association of Power Generation Companies, Joy Ogaji announced yesterday, 18th March, 2026 that 16 out of Nigeria’s 33 power plants ceased to supply electricity as of Tuesday. This was in the face of the growing outstanding amount of 6.8 trillion naira ($4.9 million) being indebted to the Nigerian power producers. According to data shared by the industry association, this debt has been increasing since 2015 and it continues to grow by about 200 billion naira each month.

The obvious consequence of the recent financial pressure across the power supply chain has been that these companies can no longer maintain their machines, or afford equipment for gas supplies. According to Ogaji, these power production firms owe suppliers of gas and transport services an equivalent of 60% of what they are owed. Already. Nigeria’s minister of power, Adebayo Adelabu said that 70.5% of electricity is from gas (thermal plants), 27.3% from hydro, 2.2% from solar and others.

However, these accumulated debts have left many power-generation firms in a critical condition, and some have gone to the extent of taking loans in order to keep operating and paying salaries. Ogaji is quite skeptical about the plans the government have in place to raise 4 trillion naira domestic capital markets in order to settle the debts. From the information available, only eighth of the targeted amount has been raised so far and the rest is expected to be funded through quarterly bond sales.