FG debt, gas shortage cripple operations of Ibom Power plant

Ibom Power Company Limited (IPC), a pioneering independent state-owned power plant in Nigeria, faced severe operational setbacks, losing almost an entire year of electricity generation during the 2025/2026 period. The plant's operations were crippled by a prolonged gas supply crisis, underscoring the persistent liquidity challenges plaguing the country's power sector.

The 191-megawatt facility, one of Nigeria's earliest independent power producers, was unable to function at full capacity for an extended duration. This inability to generate power consistently has significant implications for the national grid and the broader economy, which relies on stable electricity supply.

The disclosure by Ibom Power points to systemic issues within Nigeria's energy infrastructure. The dependence on gas supply, coupled with financial constraints, creates a volatile operating environment for power generation companies. This situation is emblematic of the wider liquidity problems that continue to hinder the performance and expansion of the power sector across the nation.