Minister announces FG plan to settle GenCos and gas suppliers’ debts in April
Revealing a significant development, Minister of Power, Adebayo Adelabu, shared that the Federal Government will commence payments towards the debts owed to power generating companies and gas suppliers starting in April.
During a recent visit to Egbin Power Plc in Lagos State, Adelabu mentioned plans to collaborate with the Central Bank of Nigeria to prioritize foreign exchange allocation to enhance the power sector's capacity for generating output.
In discussions about the debts within the power sector, Adelabu mentioned seeking understanding from GenCo stakeholders during his visit to Egbin.
He emphasized the importance of addressing the owed debts to ensure the uninterrupted operation of power assets like Egbin Power plant. Adelabu assured that the gover...