Skip to main content

Tinubu Approves N3.3trn Payment Plan To Facilitate Steady Power Supply

BY CHIKA OKEKE, Abuja
President Bola Tinubu 

Worried by the deteriorating electricity distribution, President Bola Tinubu has approved ₦3.3 trillion payment plan to facilitate steady power supply across the country. 

The fund is expected to offset the outstanding debts under the Presidential Power Sector Financial Reforms Programme. 

It followed the final review of the legacy debts that have beset the power sector for more than a decade.

The long-standing debts accumulated between February 2015 and March 2025. Following verification, ₦3.3 trillion was agreed as a full and final settlement, ensuring a fair and transparent resolution.

Implementation has begun, with 15 power plants signing settlement agreements totalling ₦2.3 trillion. 

Already, the Federal Government has raised ₦501 billion to fund these payments. Out of the amount, N223 billion has been disbursed, with further payments underway.

With payments reaching the power value chain, generation will be more stable, electricity supply to Nigerians will improve, as the Federal Government supports power plants. 

This is even as the sector stabilises, ans translates to more investment,  jobs, and better service. 

Special Adviser to President Tinubu on Energy, Olu Arowolo-Verheijen said: "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. 

"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."

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.

This was contained in a statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga in Abuja. 
Labels:

Comments

Post a Comment

Popular posts from this blog

EHCON Moves To Rebrand Environmental Health Sector Using Artificial Intelligence

BY CHIKA OKEKE, Abuja   Dr Yakubu Baba The Environmental Health Council of Nigeria (EHCON) has taken cogent steps to rebrand the environmental health sector using artificial intelligence.  Already, plans are underway to extend the initiative across the six geopolitical zones, as no community would be sidelined.  The Registrar of EHCON, Dr Yakubu Baba stated this in Abuja at a 3-day workshop organised by EHCON in collaboration with Afri-Tourism Investment Limited and West Africa Gas Pipeline Authority (WAGPA) with the theme: "AI-Driven Operations and Predictive Analysis." The essence of the workshop is to improve environmental health practice and prevent emerging diseases using artificial intelligent.   It is expected to empower Environmental Health Officers (EHOs) with the necessary digital skills needed to deepen environmental health practice and provide workable  solutions to problems.  Baba noted that integrating AI into environmental he...
Post a Comment
Read more

EHCON Unveils Technology To Phase-out Emissions, Protect Public Health

BY CHIKA OKEKE, Abuja The Environmental Health Council of Nigeria (EHCON) has unveiled a technology meant to phase-out Greenhouse Gas (GHG) emissions and protect public health from emerging diseases, in line with the Paris Agreement on Climate Change.  Tagged Oxytane Fuel Additive, it is designed to enhance engine performance, increase fuel efficiency by over 25 percent, and reduce harmful emissions by up to 70 percent. It has been tested on high-capacity generators, including at the Office of the Head of Service of the Federation. Oxytane works by cleaning fuel injectors, removing carbon deposits, and improving combustion in petrol, diesel, and kerosene engines. It is used for personal vehicles, generators, and industrial equipment.  Unveiled by EHCON in partnership with the Federal Ministry of Environment and Oxytane Africa Investment Limited, the initiative will strengthen environmental governance and control Nigeria's carbon footprints.  These formed the c...
6 comments
Read more

EHCON Bolsters NDCs With National Response Initiative On Greenhouse Gas Emissions

BY CHIKA OKEKE, Abuja Environmental Health Council of Nigeria (EHCON) has strengthened Nigeria's Nationally Determined Contributions (NDCs) with the unveiling of national response initiative, meant to cripple diseases traceable to Greenhouse Gas (GhG) emissions nationwide.  This formed the crux of discuss on Monday at the National Stakeholders’ Engagement on Greenhouse Gas (GHG) Emissions and the Declaration of a Public Health Emergency on Environmental-Related Diseases.  The National Emergency Response Initiative on Environmental Public Health Impacts of Greenhouse Gas Emissions (NERI-EPHIGGE) was designed to strengthen Environmental Health Service (EHS) delivery, promote climate responsive public health interventions and enhance the professional capacity of Environmental Health Practitioners (EHPs) across the country to mitigate GhG emissions.  Registrar/Chief Executive Officer of Environmental Health Council of Nigeria (EHCON) Dr Yakubu Baba said that the i...
Post a Comment
Read more