Minister announces plans for FG to clear debts owed to GenCos and gas suppliers in April
Minister of Power, Adebayo Adelabu, shared that the Federal Government is set to initiate payments towards the debts it owes power generating companies and gas suppliers starting from April.
During a recent visit to Egbin Power Plc in Ikorodu, Lagos State, Adelabu made this announcement.
He mentioned plans to collaborate with the Central Bank of Nigeria to prioritize foreign exchange allocation to the power sector in order to enhance generating capacity.
Addressing the outstanding debts to stakeholders in the power sector, Adelabu assured Egbin of the government's commitment to addressing the situation to prevent operational disruptions.
“The Federal Government is settling debts owed to power generating companies, with Egbin Power plant being a significant ...