FG's Refinancing Plan to Enhance Nigeria's Power Sector

The Federal Government of Nigeria has approved a refinancing plan for the power sector, aimed at improving liquidity and unlocking fresh investments, as stated by Jennif Adighij, Managing Director of the Niger Delta Power Holding Company Ltd (NDPHC). During an inspection tour of the 570 megawatt Alaoji Combined Cycle Power Plant in Abia State, Adighij announced a revised completion date of Q3 2027, with the project currently at 16% completion.

The refinancing initiative, approved by President Bola Tinubu, is part of broader reforms to address longstanding financial issues in Nigeria's electricity supply industry, which has accumulated legacy debts of approximately N4 trillion. Adighij emphasized the importance of improving financial flow within the electricity value chain to complete delayed projects.

She expressed optimism that the refinancing plan would provide the necessary liquidity to sustain ongoing investments in power infrastructure across the country. The NDPHC is committed to supporting contractors and ensuring steady progress on projects despite previous delays.