Tinubu don approve ₦3.3trn debt money wey fit bring back beta light for Nigeria
One statement from presidential spokesman, Bayo Onanuga, talk say di long-standing debt na one wey gather from February 2015 reach March 2025.
President Bola Tinubu don give green light for payment plan wey go finally settle all the old debt wey dey under Presidential Power Sector Financial Reforms Programme for Nigeria.
Dis debt repayment plan follow the final check of those old debts wey don trouble light sector for more than ten years.
One statement from presidential spokesman, Bayo Onanuga, talk say the long-standing debt wey gather from February 2015 reach March 2025.
“After verification, dem agree ₦3.3 trillion as full and final settlement, to make sure say everything dey fair and transparent,” the statement talk.
According to the statement: “Dem don start to do am, with 15 power plants wey sign settlement agreements wey total ₦2.3 trillion. Federal Government don raise ₦501 billion to fund these payments. Out of dis one, dem don pay N223 billion, and more payments dey go.
“Wetin this one mean for Nigerians: With payments wey dey reach power value chain, light go dey more stable. With power plants wey dem support, electricity go improve.”
The statement add say as the sector dey better, more investment, more jobs, and beta service go follow.
“Dis programme no be just to settle old debts. E be say we dey bring back confidence for the power sector — to make sure say gas suppliers dey paid, power plants fit keep running, and the system begin to work better,” na wetin Olu Arowolo-Verheijen, Special Adviser on Energy to President Tinubu, explain.
“E be part of bigger reforms wey dey happen — including better metering and service-based tariffs wey link wetin you pay to the quality of light wey you get.
“The government dey also prioritise power supply to businesses, industries, and small enterprises — because beta light dey very important to create jobs, support livelihoods, and grow the economy.”