TINUBU UNLEASHES ₦3.3TRN POWER BOOST: NIGERIA’S ELECTRICITY GRID GETS A LIFELINE
GREATRIBUNETVNEWS–PRESIDENT Bola Tinubu has approved a ₦3.3 trillion payment plan to settle outstanding debts in the power sector, paving the way for reliable electricity.
Key Highlights:
– _”The debt repayment plan followed the final review of the legacy debts that have beset the power sector for more than a decade.”_
– ₦3.3 trillion agreed as full and final settlement for debts accumulated between Feb 2015 and Mar 2025
– 15 power plants signed settlement agreements totalling ₦2.3 trillion
– ₦501 billion raised, with ₦223 billion already disbursed
– Expected outcomes:
– More stable power generation
– Improved electricity reliability
This move aims to revitalize Nigeria’s power sector and bring relief to citizens
And as the sector stabilises, more investment, more jobs, and better service will follow.
“This programme is not just about settling legacy debts. It is about restoring confidence across the power sector — ensuring gas suppliers are paid, power plants can keep running, and the system begins to work more reliably,” explained Olu Arowolo-Verheijen, Special Adviser on Energy to President Tinubu.
“It is part of a broader set of reforms already underway — including better metering and service-based tariffs that link what you pay to the quality of electricity you receive.
“The government is also prioritising power supply to businesses, industries, and small enterprises — because reliable electricity is critical to creating jobs, supporting livelihoods, and growing the economy.
“The goal is simple: more reliable power for homes, stronger support for businesses, and a system that works better for all Nigerians,” she added.
President Tinubu has commended all stakeholders who supported efforts to resolve the legacy issues in the power sector. He has also confirmed that the next phase (Series II) will begin this quarter.
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