FG Approves N4 Trillion Bond to End Power Shortage in Nigeria

The Federal Government of Nigeria has approved a N4 trillion bond to clear debts owed by Generation Companies (GenCos) and gas suppliers in a bid to address power shortages. Minister Adebayo Adelabu announced the initiative at the Nigeria Energy Summit in Lagos, emphasizing the need to enhance revenue and investor confidence in the power sector.

The government plans to introduce tariff policies and minimum capital adequacy requirements for power sector players. Various national programs are also being launched to modernize the national grid and improve power sector efficiency.