The Nigerian Electricity Regulatory Commission (NERC) has revealed that Ajaokuta Steel Company Limited and its host community failed to pay a combined electricity debt of ₦1.39 billion in the second quarter of 2025.
According to NERC’s Q2 2025 Power Sector Report, the steel company owes ₦1.27 billion to the Nigerian Bulk Electricity Trading Plc (NBET) and another ₦0.12 billion to the Market Operator (MO).
Located in Ajaokuta, Kogi State, the steel complex—once envisioned as the cornerstone of Nigeria’s industrialization—has remained largely dormant for decades but continues to accumulate energy bills.
NERC noted that the non-payment reflects a recurring pattern of indebtedness despite several interventions and engagements with relevant authorities.
“The Commission has communicated the need for intervention on this issue to the relevant federal government authorities,” the report stated.
Efforts to revive Ajaokuta Steel have repeatedly stalled due to persistent funding constraints and policy inconsistencies, leaving the massive industrial project inactive but financially burdensome.
President Bola Tinubu has appointed Bianca Odumegwu-Ojukwu as Nigeria’s Minister of Foreign Affairs, following the…
The Inspector-General of Police (IGP), Tunji Disu, has approved the recommendation of the Force Disciplinary…
Lagos State Deputy Governor Obafemi Hamzat has received President Bola Tinubu's official backing as the…
A staff member at the Murtala Muhammed International Airport, Ikeja, has returned a lost purse…
Celebrity barman and socialite Pascal Okechukwu, popularly known as Cubana Chief Priest, has declared his…
President Bola Tinubu has approved the removal of Saidu Mohammed as the Chief Executive of…
This website uses cookies.