GenCos get gas price slash amid N2tn debt

The Nigerian Midstream and Downstream Petroleum Regulatory Authority has slashed the price of natural gas for power generation companies.

This is coming amid about N2tn debt owed to gas companies by the power generation companies as a result of illiquidity.

GenCos are now expected to pay $2.13 per million British thermal units, according to a document released by the NMDPRA.

The PUNCH recalled that in March 2024, the regulator introduced a…