FG pays N1.23tn of N3.3tn GenCos debt — Minister
The Federal Government has paid N1.23tn out of the N3.3tn debt owed to Generation Companies, the Minister of Power, Joseph Tegbe, has disclosed. Read More: https://punchng.com/fg-pays-n1-23tn-of-n3-3tn-gencos-debt-minister/
The Federal Government has announced it has paid N1.23tn towards the N3.3tn debt owed to gas suppliers in Nigeria. This payment was made during a recent meeting of the Federal Executive Council chaired by President Bola Tinubu. Joseph Tegbe, the Minister of Power, disclosed the figures while addressing State House correspondents after the meeting.
The debt payment is part of ongoing efforts to address liquidity and debt issues in the power sector, which had been impacting the supply of feedstock gas to generation companies. In addition to debt payments, the government is also focusing on optimizing existing assets in the sector and building resilience into the national grid through targeted investments in transmission infrastructure.
President Tinubu's reforms aim to boost sugar self-sufficiency and present the 2027 budget before the end of the year.
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- FG pays N1.23tn of N3.3tn GenCos debt — Minister punchng.com
