President Bola Tinubu has assured power generation companies that his administration will settle outstanding debts once they are properly verified.
Speaking during a meeting with the Association of Power Generation Companies at the State House, Tinubu affirmed his commitment to resolving Nigeria’s power sector liquidity crisis.
He emphasized the need for a thorough audit, noting that he accept liabilities, but only on credible and verifiable grounds.
The Special Adviser on Energy, Olu Verheijen, revealed that ₦4 trillion is owed to GENCOs dating back to 2015, with ₦1.8 trillion already validated.
Minister of Power, Adebayo Adelabu, praised the reforms so far but warned that liquidity gaps could lead to a shutdown if not addressed.
