JUST IN: Tinubu approves payment plan to settle N3.3 trillion power sector debt
President Bola Tinubu has approved a structured payment plan to address the N3.3 trillion outstanding debt in Nigeria’s power sector.
The development was disclosed on Sunday by Bayo Onanuga, the President’s Special Adviser on Information and Strategy, in an official statement.
According to the statement, the initiative is aimed at stabilising the power sector and resolving long-standing financial obligations owed to key stakeholders, including generation companies (GenCos).
Further details on the implementation of the payment plan are expected to be released in due course.