Nigeria TV Info 

Tinubu Approves ₦3.3 Trillion Plan to Tackle Nigeria’s Electricity Crisis

President Bola Ahmed Tinubu has approved a ₦3.3 trillion payment plan aimed at resolving Nigeria’s long-standing electricity challenges by clearing debts in the power sector.

The approval, announced by the presidency, targets legacy debts accumulated over more than a decade within Nigeria’s power value chain. The settlement is expected to improve liquidity, stabilize electricity generation, and enhance overall service delivery across the country.

According to government officials, the ₦3.3 trillion represents a “full and final settlement” following a comprehensive verification process. The debts, incurred between 2015 and 2025, had significantly hindered operations of power generation companies and gas suppliers, contributing to persistent outages nationwide.

The initiative is part of the Presidential Power Sector Financial Reforms Programme, designed to restore investor confidence and ensure a more efficient electricity market. Authorities say improved cash flow will enable power plants to operate more consistently, leading to more reliable supply for homes and businesses.

Implementation has already begun, with several power generation companies signing settlement agreements. The government has also commenced partial disbursement of funds, signaling a phased rollout of the reform plan.

Officials further disclosed that the programme will extend into another phase within the current quarter, focusing on broader reforms such as improved metering, fair tariff systems, and prioritised electricity supply for industries and small businesses.

The move is widely seen as a critical step toward addressing Nigeria’s chronic power shortages, which have long affected economic growth and forced many citizens and businesses to rely on alternative energy sources.