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Tinubu Orders Immediate Action As FG Targets Power Sector Debt Overhaul
The Federal Government has established a special committee to resolve the outstanding debts owed to Power Generation Companies (GenCos) and develop a lasting payment framework to ensure financial stability in the power sector.....KINDLY READ THE FULL STORY HERE▶
According to Nivo News, the Permanent Secretary of the Ministry of Power, Mr. Mahmuda Mamman, made this known on Monday in Abuja during the 10th Anniversary celebration of the Association of Power Generation Companies of Nigeria (APGC), themed “A Decade of Powering Progress, Driving Nigeria’s Energy Transformation.”
Represented by Mrs. Evangeline Babalola, a Director in the Ministry, Mamman explained that the committee was not only tasked with clearing existing debts but also with establishing a sustainable payment structure to prevent future accumulation.
He commended the GenCos for their resilience and dedication despite severe liquidity challenges that have persisted in the sector, describing their continued operations as an act of patriotism. “You have not abandoned your posts in spite of severe liquidity challenges that would have crippled any other industry. This is patriotism in action,” he stated.
Mamman further noted that President Bola Tinubu was fully aware of the financial strains confronting the Nigerian Electricity Supply Industry (NESI) and was determined to address the debt crisis comprehensively. He encouraged the GenCos to maintain their commitment as the government works towards restoring financial balance in the sector.
The Permanent Secretary also praised the GenCos for their contributions to job creation, human capital development, and local economic growth, describing their role as invaluable to Nigeria’s industrial progress.
Senator Enyinnaya Abaribe, Chairman of the Senate Committee on Power, also lauded APGC’s role in driving policy advocacy, investment attraction, and stakeholder engagement over the past decade. He acknowledged the association’s resilience in navigating challenges such as tariff issues, infrastructure gaps, and gas supply shortages.
APGC Chief Executive Officer, Mrs. Joy Ogaji, highlighted that over the past ten years, the association had championed reforms, transparency, and sustainability in the power sector. She emphasized that despite ongoing challenges, GenCos remained committed to powering Nigeria’s future through collaboration and strategic advocacy.
Ogaji added that the anniversary marked both a celebration of achievements and a renewed call for a transparent, market-driven, and sustainable energy sector that would secure Nigeria’s long-term power stability.
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Tension In UK As Nigerians Push For INEC Chairman’s Removal Ahead Of 2027.
A group of Nigerians has staged a protest at the United Kingdom Parliament, calling for the removal of the Chairman of the Independent National Electoral Commission (INEC) ahead of the 2027 general elections.....KINDLY READ THE FULL STORY HERE▶
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“My Nightclubs Are The Least Of What I Do” — Sir Uyi Fires Back At Critics.
Sir Uyi has responded strongly to critics of his involvement in nightclub businesses, insisting that such ventures represent only a small part of his wider activities.....KINDLY READ THE FULL STORY HERE▶
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Shock In Benue As Police Nab Seven Over Abduction Of JAMB Candidates.
The Benue State Police Command has confirmed the arrest of seven suspected militia herdsmen in connection with the abduction of passengers travelling in an 18-seater Benue Links bus along the Makurdi–Otukpo road last Wednesday.....KINDLY READ THE FULL STORY HERE▶
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