Electricity

Federal Government Accelerates Power Sector Reforms to Strengthen Grid Reliability

Posted on by Newswire & Public Relations Agency
Federal Government Accelerates Power Sector Reforms to Strengthen Grid Reliability

The Federal Government of Nigeria has intensified reforms in the electricity sector with renewed emphasis on improving grid reliability and reducing system disruptions. The Honorable Minister of Power, Chief Adebayo Adelabu earlier today reaffirmed his focus on grid stability and universal metering, addressing legacy financial audits from 2022 to maintain transparency. Officials also confirmed that ongoing interventions focus on transmission upgrades, system redundancy, and improved coordination among generation and distribution entities. According to sector regulators,…

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Nigeria Clears $128 Million Gas Debts to Reinforce Power-Supply Chain

Posted on by Newsroom Operations
Nigeria Clears $128 Million Gas Debts to Reinforce Power-Supply Chain

Abuja — In a major move aimed at stabilising Nigeria’s troubled electricity sector, the federal government has approved payment of 185 billion naira (approximately USD 128 million) to settle long-standing debts owed to natural gas producers supplying power generation companies (GenCos). The decision, endorsed by the National Economic Council (NEC), chaired by the Vice President, follows a directive from Bola Tinubu to clear legacy arrears that have undermined investment, strained cash flow, and restricted gas…

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