US EditionTinubu Meets GenCos, Moves to Resolve N4tn Debt Overhang
- President Bola Ahmed Tinubu asked power generation companies for more time to verify debts owed to them, emphasizing the government's commitment to resolving liquidity challenges in the power sector.
- The Special Adviser on Energy, Olu Verheijen, confirmed that a N4 trillion bond program has been approved to address the liquidity crisis in the power sector.
- Minister of Power, Adebayo Adelabu, highlighted that reforms under President Tinubu have restored investor confidence, but an ongoing liquidity crisis threatens these improvements.
- President Tinubu acknowledged past liabilities and committed to transparency, stating that access to electricity is essential for economic growth and human dignity.
14 Articles
14 Articles
Electricity: Tinubu meets chairpersons of GenCos, pledges to resolve longstanding debt
In April, GenCos warned of imminent shutdown due to a N4 trillion debt owed by the Nigerian government for electricity generated and supplied to the national grid. The post Electricity: Tinubu meets chairpersons of GenCos, pledges to resolve longstanding debt appeared first on Premium Times Nigeria.
Tinubu meets Chairmen of GENCOS, Pledges to resolve...
President Bola Ahmed Tinubu on Friday appealed to power generation companies (GENCOs) to give the federal government more time to complete the verification and validation of longstanding debts owed to the companies. During a meeting with members of the Association of Power Generation Companies, led by Col. Sani Bello (rtd), at the Presidential Villa in Abuja, the President assured them of his administration’s commitment to resolving the liquidit…
Tinubu Pledges Payment Of GenCos' N4trn Debt Claim After Verification - News Agency Of Nigeria
Tinubu pledges payment of GenCos’ N4trn debt claim after verification 20 total views todayBy Muhyideen Jimoh President Bola Tinubu has assured power generation companies (GenCos) of the Federal Government’s commitment to settling outstanding debts, pending a thorough audit process. The assurance was given on Friday during a meeting with the Association of Power Generation Companies at the State House, Abuja. […] News Agency of Nigeria
Tinubu Backs ₦4tr GENCOs Debt Clearance, Orders Verification Of Claims Dating Back To 2015
President Bola Tinubu has assured power generation companies (GENCOs) that the federal government has commenced the process of verifying and validating debts totalling ₦4 trillion, accumulated since 2015. The President, who met with members of the Association of Power Generation Companies at the Presidential Villa in Abuja on Friday, said his administration was committed to resolving the decade-long liquidity crisis in the power sector. He appea…
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