Tinubu Approves N3.3tn To Settle Power Sector Debts, Improve Electricity

Bola Tinubu

President Bola Tinubu has approved a ₦3.3 trillion payment plan aimed at resolving long-standing debts in Nigeria’s power sector. The fund is expected to help boost the reliability of electricity supply, and Nigerians have been reacting.

Addressing legacy debts accumulated between February 2015 and March 2025 under the Presidential Power Sector Financial Reforms Programme, the government agreed on ₦3.3 trillion as a full and final settlement, ensuring transparency and fairness.

The special adviser to President Tinubu on information and strategy, Bayo Onanuga, added that implementation of the repayment plan has already begun, with 15 power plants already signed settlement agreements totalling ₦2.3 trillion.

It read, “President Bola Tinubu has approved the payment plan to finally settle the outstanding debts under the Presidential Power Sector Financial Reforms Programme.

The debt repayment plan followed the final review of the legacy debts that have beset the power sector for more than a decade.

The long-standing debts accumulated between February 2015 and March 2025. Following verification, ₦3.3 trillion has been agreed as a full and final settlement, ensuring a fair and transparent resolution.

Implementation has begun, with 15 power plants signing settlement agreements totalling ₦2.3 trillion. The Federal Government has already raised ₦501 billion to fund these payments. Out of the amount, N223 billion has been disbursed, with further payments underway.

What this means for Nigerians: With payments reaching the power value chain, generation will be more stable. With power plants supported, electricity reliability will improve.”

WOW.