Hope Alive Initiative Praises Tinubu for N3tn Debt Settlement

The Hope Alive Initiative (HAI), a civil society organization, has praised President Bola Ahmed Tinubu for his decision to approve the settlement of a N3 trillion debt owed to electricity companies in Nigeria. In a statement released on Friday, HAI characterized this decision as a bold step toward revitalizing the country's power sector, which has faced significant challenges over the past decade, including mounting debt, operational inefficiencies, and low investor confidence.

Ernest Omo, the Director of Press Communications for HAI, noted that the debt burden has hindered the ability of electricity generation and distribution companies to deliver reliable electricity to homes and businesses. The organization emphasized that settling this debt would restore confidence among these 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 contribute to broader economic development. The group also 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.