President Bola Tinubu is set to meet power generation companies to address a N4tn debt threatening Nigeria’s electricity supply.
The move follows warnings from Gencos about a looming sector collapse, with N2tn owed for 2024 and N1.9tn in legacy debts. Power Minister Adebayo Adelabu said the government plans to pay part of the debt in cash and clear the rest via promissory notes within six months.
Adelabu described the crisis as a national emergency, urging reforms, cost-reflective tariffs, and liberalisation of the sector to ensure long-term stability.
