In a significant move to address the mounting financial strain in Nigeria’s power sector, the Federal Government has announced plans to settle ₦2 trillion of the ₦4.7 trillion debt owed to electricity generation companies (GenCos) by the end of 2025. This initiative aims to prevent potential power plant shutdowns and ensure the continuity of the
The Nigerian government has recorded a significant win in its efforts to stabilize its electricity supply. According to the Minister of Power, Adebayo Adelabu, an additional 700 megawatts (MW) has been added to the national grid, thanks to the ongoing Presidential Power Initiative (PPI), a project backed by $2.3 billion in financing. The Minister revealed
Adebayo Adelabu, Nigeria’s Minister of Power, has indicated that electricity consumers under Band B may soon face a tariff increase, stating that they are not paying enough compared to the level of electricity they receive. Speaking on Thursday at the public presentation of the National Integrated Electricity Policy (NIEP) and the Nigeria Integrated Resource Plan
