Nigeria: Debt Burden - No Sin in Borrowing - Presidency

FG to pay ₦2tn electricity debt by next quarter — Presidency

The Federal Government plans to pay ₦2 trillion of the over ₦4 trillion electricity debt owed to power generation companies (GenCos) before the end of the next quarter, according to the Special Adviser to the President on Energy, Olu Verheijen. Verheijen, speaking through her representative Eriye Onagoruwa at a Nigerian Electricity Supply Industry (NESI) stakeholders’ meeting hosted by the Nigerian Electricity Regulatory Commission (NERC), said …

No sin in borrowing — Presidency

The presidency has said the government’s borrowing approach is a necessary instrument for driving economic development. The Special Adviser to the President on Information and Strategy, Bayo Onanuga, stressed that when loans are utilized responsibly, borrowing should not be viewed negatively. Onanuga made this clarification at a media interaction held in Lagos, where senior presidential aides addressed journalists on the administration’s economi…

Nigeria: Debt Burden - No Sin in Borrowing - Presidency

Lagos -- ...Says Tinubu laying foundation for Nigeria's industrial base

Presidency Initiates Plan to Settle ₦2 Trillion Power Sector Debt - Lagos Television

Presidency Begins Approval Process to Settle ₦2 Trillion Power Sector Debt The Nigerian Presidency has initiated internal approval procedures to resolve the ₦2 trillion legacy debt owed to electricity generation companies (GenCos), with plans to complete the process by the end of the upcoming quarter. This move forms part of broader efforts to stabilise Nigeria’s ailing power sector. This was…

Borrowing prevents economic collapse, Orji Uzor Kalu justifies Nigeria’s debt

Senator Orji Kalu has defended the 10th National Assembly against criticisms suggesting it is a rubber stamp of the executive, insisting that the legislature is committed to due process and thorough scrutiny of bills and policies.In an interview with Channels Television on Monday, the former Abia State governor dismissed claims that lawmakers do not subject executive proposals to proper legislative checks, stating that the public perception does…

There is no sin in borrowing — Presidency

The presidency has said the government’s borrowing approach is a necessary instrument for driving economic development.   The Special Adviser to the President on Information and Strategy, Bayo Onanuga, stressed that when loans are utilized responsibly, borrowing should not be viewed negatively.   Onanuga made this clarification at a media interaction held in Lagos, where senior presidential aides addressed journalists on the administration’s eco…