N457bn debt responsible for lack of electricity transmission flow – TCN

The Transmission Company of Nigeria (TCN) has stated that the non-payment of a N457 billion debt owed by stakeholders in the industry has been a key factor affecting the company’s ability to carry out its duties and perform optimally.

The Executive Director of Transmission System Provider (TSP) at TCN, Engineer Oluwagbenga Ajiboye, revealed this at a three-day media workshop organised for power correspondents in Keffi, Nasarawa State, themed: “Understanding the Critical Role of TCN in Nigeria Electricity Supply Industry (NESI)”.

According to Ajiboye, the heavy debt burden has not only significantly affected power transmission, but issues relating to the right of way have also hindered the smooth erection of transmission towers to deliver electricity to Nigerians.

He added that TCN is being owed N217 billion as legacy debt and the remaining N240 billion for services rendered to Distribution Companies (DISCOs), while reaffirming TCN’s commitment to transparency, accountability, and sustained engagement with the media as critical partners in shaping public understanding of the power sector.

Ajiboye also stated that vandalism has further impacted TCN’s projections for grid expansion, noting that the company spent nearly N9 billion to restore some of its facilities.

ALSO READ: NIGCOMSAT accelerator programme 2.0 to boost space-tech innovation – Stakeholders

He said, “We are being owed about N457 billion as of March this year out of which N217 is legacy debt. 2024 was a year of vandalisation and we spend in the excess of N9 billion for repair. These encumbrances have continued to affect the grid expansion. Right of way has always hindered our work to access some communities transmission lines will pass through.”

He highlighted TCN’s ongoing efforts to address widespread misconceptions about its role within the Nigerian Electricity Supply Industry, saying that a key challenge lies in the public misunderstanding between installed capacity and available capacity, and noting that many transmission assets have become overused over time. To address these issues, he said TCN is making strategic investments in infrastructure and is embracing public-private partnerships to close identified gaps and meet national demand.

The Executive Director also stated that infrastructure security concerns are now being handled by the Office of the National Security Adviser (NSA), with new investment plans underway to strengthen the reliability of the transmission network.

ALSO READ TOP STORIES FROM NIGERIAN TRIBUNE