Nigeria Moves to Clear N185bn Gas Debt to Boost Energy Sector

The Nigerian government is taking steps to clear a N185 billion gas legacy debt to enhance the country's energy sector and tackle financial obstacles. Led by Vice President Kashim Shettima, the Nigerian National Economic Council approved a debt repayment plan to address arrears in gas production and supply, which have hindered investment and power generation.

The Ministry of State for Petroleum Resources, through spokesperson Louis Ibe, highlighted the importance of settling the debt to restore confidence among domestic and international gas producers. Dr.

Ekperikp Ekpo emphasized that clearing the debt is a crucial move to revitalize Nigeria's gas sector and increase gas supply for sustainable power generation, ultimately alleviating the electricity crisis in the country.