N110b debt cripples gas producers

3rd November 2016

The President, Nigerian Gas Association (NGA), Dada Thomas yesterday lamented that players in the gas industry are running out of cash as a result of the N110 billion debt customers are owing gas producers.

Thomas, who is also the Managing Director, Frontier Oil Limited, spoke to reporters at the ongoing NGA conference in Abuja.

He said the intervention of the Central Bank of Nigeria (CBN) to gas producers was still negligible because all the electricity generation companies (GenCos) in the country operating thermal plants depend on gas. Read