President Bola Tinubu has approved a N4tn bond to clear verified debts owed to power generation companies and gas suppliers as part of efforts to stabilise Nigeria’s electricity market and restore confidence in the sector.
The Minister of Power, Adebayo Adelabu, made the disclosure in Abuja at the Expert Forum on ‘Uninterrupted Power: The Industrial Imperative’ organised by the Nigeria Economic Summit Group, where he outlined ongoing reforms under the Federal Government’s Renewed Hope Agenda to make the power sector sustainable and commercially viable.
According to him, the bond approval forms part of a broader financial stabilisation plan designed to address legacy liabilities that have hindered investment and liquidity across the electricity value chain.