President Bola Tinubu is set to meet with power-generating companies to address Nigeria’s N4 trillion power sector debt crisis.
The move follows a meeting last Tuesday between the Minister of Power, Adebayo Adelabu, and the chairmen of GenCos in Abuja.
According to Bolaji Tunji, Special Adviser on Strategic Communications, the Federal Government has resolved to settle part of the debt immediately and clear the remainder with promissory notes within six months.
The debt includes N2 trillion for power supplied in 2024 and N1.9 trillion in legacy debt.
The president’s proposed meeting is aimed at preventing a collapse of the national electricity grid, which remains under threat due to severe liquidity constraints in the sector.
