Hope Alive Initiative Praises Tinubu for N3tn Debt Settlement

The Hope Alive Initiative (HAI) has praised President Bola Ahmed Tinubu for his approval of a N3 trillion debt settlement owed to electricity companies in Nigeria. In a statement released on Friday, HAI characterized this decision as a bold step aimed at revitalizing the nation’s power sector.

Ernest Omo, the Director of Press Communications for HAI, noted that the settlement signals strong leadership and demonstrates the administration's commitment to stabilizing the electricity industry, which has struggled for decades under the weight of mounting debt, operational inefficiencies, and low investor confidence. The organization emphasized that clearing the debt burden would restore confidence among electricity generation and distribution companies, attract fresh investments, and improve service delivery nationwide.

HAI expressed optimism that this strategic intervention would remove major obstacles to progress in the sector, enhance competitiveness within Africa, and support broader economic ambitions. The group urged electricity companies to reciprocate the government's efforts by improving service delivery and called on citizens to continue supporting the administration's reform agenda.