Nigerian Power Sector Debt Settlement Progress

Joseph Tegbe, Minister of Power, stated at the Harvard Business School Association of Nigeria (HBSAN) Energy Conference in Lagos that approximately ₦1.23 trillion of outstanding debts had been settled via bonds. He emphasized the government's commitment to clearing the remaining balance by 2027 while implementing measures to prevent new arrears in the power sector.

Tegbe clarified that the initiative extends beyond settling historical debts, aiming to ensure the sector attracts investment and provides reliable power to households and businesses nationwide. The government's focus aligns with President Tinubu's administration to deliver stable electricity for all Nigerians, supporting the Renewed Hope Agenda's goals for a robust power sector.