President Bola Ahmed Tinubu has approved a N3.3 trillion payment plan aimed at settling long-standing debts owed to power Generation Companies (Gencos) as well as Gas Companies (Gascos) in a move designed to address persistent liquidity crisis in Nigeria’s electricity sector.
The presidency said the approval followed a final verification and reconciliation of legacy obligations accumulated between February 2015 and March 2025 under the Presidential Power Sector Financial Reforms Programme.
The intervention is expected to improve cash flow within the electricity market, particularly for Gencos and gas suppliers, who have faced prolonged payment delays that have constrained generation capacity and weakened overall system performance, the presidency stated….CONTINUE FULL READING>>>
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