Figures cited by Daily Post show that President Bola Tinubu has greenlit a N3.3 trillion payment plan designed to clear long-standing debts within Nigeria’s troubled electricity industry. The move is part of a broader strategy to restore financial viability to the value chain and encourage private investors to return to the energy market.
The plan specifically targets the “legacy debts” owed to GenCos and gas suppliers, which have historically hampered the country’s ability to maintain a steady grid. By addressing the liquidity crisis, the administration hopes to finally see the results of the recent privatization efforts that many believe have fallen short of expectations.
The Nation reported that “the intervention is a lifeline for the power sector,” while Vanguard quoted energy experts saying, “the success of this plan hinges on transparent implementation and a stop to further debt accumulation.”
Echotitbits take: While N3.3 trillion is a significant commitment, the power sector is a bottomless pit without serious structural reforms in billing and collection. Watch to see if this injection leads to a measurable increase in daily megawatt output.
Source: Premium Times – https://www.premiumtimesng.com/business/business-news/869642-tinubu-approves-n3-3tn-plan-to-clear-power-sector-debts.html, and April 6, 2026
Photo credit: Premium Times
