FG yet to pay N3.3tn power debt approved by Tinubu — GenCos

Power generation companies in Nigeria have reported that the federal government has failed to settle outstanding debts totaling N3.3 trillion. Although President Bola Tinubu previously authorized the payment, the funds have yet to reach the utility providers. Industry stakeholders have expressed significant concern regarding this delay, noting that the financial shortfall threatens the stability of the national power grid. The ongoing liquidity crisis continues to hinder the ability of these companies to maintain infrastructure and ensure consistent electricity distribution. Consequently, the sector faces mounting pressure as the government struggles to fulfill its financial obligations to energy producers.

The failure to settle this massive debt risks further destabilizing Nigeria's already fragile power sector and exacerbating the country's chronic electricity shortages.