{"id":126456,"date":"2026-04-06T16:20:54","date_gmt":"2026-04-06T15:20:54","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=126456"},"modified":"2026-04-06T16:20:54","modified_gmt":"2026-04-06T15:20:54","slug":"tinubu-approves-%e2%82%a63-3trn-power-debt-settlement-plan","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-approves-%e2%82%a63-3trn-power-debt-settlement-plan\/","title":{"rendered":"Tinubu Approves \u20a63.3trn Power Debt Settlement Plan"},"content":{"rendered":"<div style=\"text-align: justify;\">By Godswill Michael<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">President Bola Tinubu has approved a \u20a63.3trn payment plan to settle longstanding debts in Nigeria\u2019s power sector, in a move aimed at restoring electricity reliability and stabilising the industry.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The approval, contained in a State House press release issued on Saturday, marks the culmination of a final review of legacy obligations under the Presidential Power Sector Financial Reforms Programme. The debts, which accumulated between February 2015 and March 2025, have weighed heavily on the sector\u2019s performance for over a decade.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">According to the statement signed by Bayo Onanuga, the verified sum of \u20a63.3 trillion represents a \u201cfull and final settlement,\u201d designed to ensure a transparent and equitable resolution for stakeholders across the electricity value chain.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Implementation of the plan has already commenced, with 15 power generation companies signing settlement agreements valued at \u20a62.3 trillion. The Federal Government has raised \u20a6501 billion to fund the initiative, out of which \u20a6223 billion has been disbursed, while additional payments are ongoing.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Explaining the broader implications, the Special Adviser to the President on Energy, Olu Arowolo-Verheijen, said the programme is central to restoring confidence in the sector.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cThis programme is not just about settling legacy debts. It is about restoring confidence across the power sector,\u00a0 ensuring gas suppliers are paid, power plants can keep running, and the system begins to work more reliably,\u201d she said.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">She added that the reform effort is part of a wider policy framework that includes improved metering and service-based tariffs, linking electricity payments to supply quality. The government is also prioritising power supply to businesses and industrial users to support economic growth and job creation.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The Presidency noted that as funds flow through the value chain, power generation is expected to stabilise, leading to improved electricity supply for households and businesses. Increased investor confidence and expanded economic activity are also anticipated outcomes of the reform.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Tinubu commended stakeholders involved in resolving the sector\u2019s legacy challenges and confirmed that the next phase of the programme, known as Series II, will commence within the current quarter.<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>By Godswill Michael President Bola Tinubu has approved a \u20a63.3trn payment plan to settle longstanding debts in Nigeria\u2019s power sector, in a move aimed at restoring electricity reliability and stabilising&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":118017,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-126456","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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