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    Nigeria approves N4trn electricity sector debt refinancing plan

    David GreatBy David GreatAugust 14, 2025No Comments1 Min Read
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    NERC: Benin, Niger, Togo owe Nigeria $8.5m for power supply
    Electricity power line
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    Nigeria has approved a phased plan to refinance 4 trillion naira ($2.61 billion) in electricity sector debt to help stabilise the nation’s ailing power industry and improve supply, its finance minister said.

    The debt, primarily owed to 27 power generation companies for outstanding invoices between 2015 and 2023, has stifled investment in the industry and exacerbated chronic power outages in Africa’s most populous nation.

    President Bola Tinubu vowed to settle the claims following a recent verification. He approved the plan on Wednesday.

    Speaking after a cabinet meeting in the capital Abuja, finance minister Olawale Edun said the refinancing would be executed within three to four weeks under the oversight of the debt management office.

    • FG set to reprivatise 11 DisCos as NASS moves to amend Electricity Act

    “It is now fully approved, and we move to implementation,” Edun said.

    The plan will likely involve bond issuances and other instruments to spread out the repayment liability over time.

    This aligns with broader sector reforms, including a 35% cut in electricity subsidies and tariff hikes for urban consumers, measures expected to save the government around 1.1 trillion naira, or around $718.58 million, annually.

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    Tinubu decorates service chiefs with new ranks

    Tinubu tasks new service chiefs to crush emerging armed groups

    October 30, 2025
    NBA warns Senate against blocking Natasha return

    Natasha invites Akpabio, senators to projects inauguration in Kogi

    October 30, 2025
    Building collapse kills one, injures seven in Jigawa

    Building collapse kills one in Lagos

    October 30, 2025
    Nigeria Police Academy registration portal still open, deny admission closure

    Police nab 13 over Chigozie Ifeonu’s murder by Hausa ‘okada’ rider

    October 30, 2025
    Tinubu decorates service chiefs with new ranks

    Full Text: Tinubu’s speech during decoration of new service chiefs

    October 30, 2025
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