Nigeria's ₦3.3trn Debt Payment Plan for Power Sector

A lawmaker, Aliyu, has stated that the Nigerian Federal Government's ₦3.3 trillion debt payment plan is encompassed within a $5 billion loan previously approved by the National Assembly for the energy sector. He clarified that no additional legislative approval is required for the debt settlement, as the National Assembly had already authorized various loans for the energy sector.

The ₦3.3 trillion is intended for the full and final settlement of legacy debts accumulated from February 2015 to March 2025. The government has raised ₦501 billion so far and has disbursed ₦223 billion for this process.

Princewill Okori, the Executive Director of the Electricity Consumers Protection Advocacy Centre, emphasized that without addressing deeper systemic issues, the financial interventions will not resolve Nigeria's electricity challenges. He noted ongoing complaints from power generation companies regarding inadequate gas supply, which remains a significant concern in the sector.