President Bola Ahmed Tinubu has approved a ₦3.3 trillion intervention plan aimed at clearing longstanding debts in Nigeria’s power sector and improving electricity supply across the country.
The initiative is designed to address financial challenges affecting power generation and distribution companies, which have contributed to unstable electricity supply nationwide.
Officials say the move will help settle outstanding obligations owed to stakeholders within the sector, including generation companies and gas suppliers.
According to government sources, the plan is part of broader reforms to revitalize the energy sector, enhance efficiency, and attract investment.
By resolving liquidity issues, the administration hopes to boost power generation capacity and ensure more reliable electricity for homes and businesses.
President Tinubu reaffirmed his commitment to transforming Nigeria’s power sector, noting that stable electricity is critical to economic growth, industrial development, and improved quality of life for citizens.
He also assured Nigerians that his administration would continue to implement policies aimed at strengthening infrastructure and delivering sustainable energy solutions across the country.