•Gencos, gas producers to get N1.3tn, $1.3bn via cash, promissory notes, royalties
President Bola Tinubu has approved the payment of N3.3 trillion in debts owed by Nigeria’s power sector. This decision aims to address the significant financial burdens that have hindered the sector’s efficiency and development. The debts include obligations to electricity generating companies and gas suppliers, which have been critical to Nigeria’s predominantly gas-powered electricity infrastructure.
This move is part of a broader strategy to stabilize the power sector and ensure a more reliable electricity supply across the country.
