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Tinubu Launches Urgent Strategy to Clear ₦4 Trillion Power Sector Debt
In a decisive move to prevent a nationwide power crisis, President Bola Tinubu is set to engage with the leadership of Nigeria’s power-generating companies (GenCos) as the Federal Government works to resolve a staggering ₦4 trillion debt threatening the country’s electricity supply chain.....KINDLY READ THE FULL STORY HERE▶
This initiative, disclosed by the Minister of Power, Adebayo Adelabu, follows a high-level meeting held in Abuja on April 29, 2025, with GenCos chairmen. The discussions come amid rising concerns over the financial instability of the power sector and fears of a potential collapse of the national electricity grid due to prolonged liquidity issues.
According to a statement released by the minister’s Special Adviser on Strategic Communications and Media Relations, Bolaji Tunji, the government has committed to settling a significant portion of the debt immediately. The remaining balance will be addressed through financial mechanisms, including the issuance of promissory notes within a six-month timeline.
Adelabu described the situation as a national emergency and reaffirmed the administration’s commitment to swiftly stabilizing the sector. “There is an urgent need to inject liquidity into the system. We are proposing a combination of upfront cash payments and structured debt instruments to prevent further deterioration of the power infrastructure,” he said.
The proposed engagement between Tinubu and GenCos’ executives underscores the administration’s recognition of the critical nature of the issue and its resolve to forestall a looming energy crisis.
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