Tinubu Approves ₦4 Trillion Debt Clearance to Boost Nigeria's Power Sector
Nigeria's power sector revenue reaches ₦1.7 trillion as President Bola Tinubu approves a ₦4 trillion debt clearance plan to stabilize the electricity market. The Minister of Power disclosed this at the Abuja Expert Forum, emphasizing the need to restore investor confidence in the energy sector.
The bond approval is part of a broader financial stabilization initiative under the Federal Government's Renewed Hope Agenda to address liquidity issues in the electricity value chain. Ongoing tariff policy reforms have led to improved supply reliability and reduced energy costs for industrial consumers.
The comprehensive plan includes legislation, policy reforms, infrastructure development, energy transition, and local content expansion to ensure a sustainable and efficient power sector.
Plus234Feed summary based on reporting from NaijaNews. Read the original report below.
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