Nigeria's Power Minister Tegbe Commits to Steady Electricity
The Federal Government of Nigeria has reaffirmed its commitment to providing steady electricity to all Nigerians, as stated by the Minister of Power, Joseph Tegbe, at the Harvard Business School Association of Nigeria Energy Conference in Lagos. The government plans to complete the payment of legacy debts owed to power generation companies (Gencos) by 2027.
So far, approximately N1.23 trillion of the backlog has been settled through bonds, with the remaining balance expected to be cleared next year. Tegbe emphasized that the government's goal extends beyond merely settling old debts; it aims to prevent future arrears to attract investment and ensure reliable power supply for homes and businesses.
This commitment aligns with President Bola Ahmed Tinubu's administration's objective to deliver stable electricity as part of the Renewed Hope Agenda, fostering growth and prosperity across the nation.
Plus234Feed summary based on reporting from Blueprint. Read the original report below.
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