Close Menu
Chronicle.ng
    Trending Stories
    Samson Haruna: Wife kills Army husband over domestic issue

    Army probes Samson Haruna’s death after fire incident in Akwa Ibom

    October 10, 2025
    Makinde: Oyo spends N2.1bn on transport subsidy for over 5 million passengers

    Makinde blasts Umahi over coastal highway cost analysis

    October 10, 2025
    White House criticizes Trump’s Nobel Prize snub

    White House criticizes Trump’s Nobel Prize snub

    October 10, 2025
    Facebook X (Twitter) Instagram
    Trending
    • Army probes Samson Haruna’s death after fire incident in Akwa Ibom
    • Makinde blasts Umahi over coastal highway cost analysis
    • White House criticizes Trump’s Nobel Prize snub
    • Tunji-Ojo: Example of exemplary youth in leadership position
    • Maria Machado, Venezuela’s opposition leader wins 2025 Nobel Peace Prize
    • Farouk Lawan hails Tinubu’s ‘fatherly compassion’ after presidential pardon
    • Jigawa Fulani herder-farmer clash kills two, injures many
    • Tim Godfrey: I got yam, chicken as payment for performances 
    Facebook X (Twitter) Instagram
    Chronicle.ngChronicle.ng
    Subscribe
    Friday, October 10
    • News
      • Nigeria News
      • World News
      • Headlines News
    • Politics
    • Business
    • Sport
    • Entertainment
    • Contact Us
    Chronicle.ng

    Nigeria approves N4trn electricity sector debt refinancing plan

    David GreatBy David GreatAugust 14, 2025No Comments1 Min Read
    Facebook Twitter Telegram WhatsApp
    NERC: Benin, Niger, Togo owe Nigeria $8.5m for power supply
    Electricity power line
    Facebook Twitter WhatsApp

    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.

    Share. Facebook Twitter Telegram WhatsApp

    Keep Reading

    Samson Haruna: Wife kills Army husband over domestic issue

    Army probes Samson Haruna’s death after fire incident in Akwa Ibom

    Makinde: Oyo spends N2.1bn on transport subsidy for over 5 million passengers

    Makinde blasts Umahi over coastal highway cost analysis

    White House criticizes Trump’s Nobel Prize snub

    White House criticizes Trump’s Nobel Prize snub

    Tunji-Ojo: Example of exemplary youth in leadership position

    Tunji-Ojo: Example of exemplary youth in leadership position

    Maria Machado, Venezuela’s opposition leader wins 2025 Nobel Peace Prize

    Maria Machado, Venezuela’s opposition leader wins 2025 Nobel Peace Prize

    Farouk Lawan hails Tinubu’s ‘fatherly compassion’ after presidential pardon

    Farouk Lawan hails Tinubu’s ‘fatherly compassion’ after presidential pardon

    Subscribe to News

    Be the first to get the latest news updates from ChronicleNG about world, sports, politics etc

    Samson Haruna: Wife kills Army husband over domestic issue

    Army probes Samson Haruna’s death after fire incident in Akwa Ibom

    October 10, 2025
    Makinde: Oyo spends N2.1bn on transport subsidy for over 5 million passengers

    Makinde blasts Umahi over coastal highway cost analysis

    October 10, 2025
    White House criticizes Trump’s Nobel Prize snub

    White House criticizes Trump’s Nobel Prize snub

    October 10, 2025
    Tunji-Ojo: Example of exemplary youth in leadership position

    Tunji-Ojo: Example of exemplary youth in leadership position

    October 10, 2025
    Maria Machado, Venezuela’s opposition leader wins 2025 Nobel Peace Prize

    Maria Machado, Venezuela’s opposition leader wins 2025 Nobel Peace Prize

    October 10, 2025
    Facebook X (Twitter) Instagram
    • Politics
    • News
    • Sports
    • Business
    • About Us
    © 2025 ChronicleNG

    Type above and press Enter to search. Press Esc to cancel.

    Go to mobile version