Nigeria`s largest electricity companies threaten to cut power supply over debts 

Nigeria's largest electricity companies have threatened to shut down power supply unless the government pays longstanding bills it owes them and improves gas supply.  

Reports say if the companies make good their threat, most industries and residential homes will be in darkness except for those that rely on expensive diesel generators. 

Six power generating companies, known as Gencos, which had bought parts of the state firm, said they would shutdown electricity generation if a debt of 156 billion naira owed by government is not paid. 

They also said banks are recalling loans made to them.  

The central bank has stepped in with a 213 billion dollar loan to keep the system afloat and allow the power firms to access credit, but more is needed as the oil price slump is  putting pressure on Nigeria's currency. 

REUTERS