Nigeria’s Minister of Power, Joseph Tegbe, says the federal government is working to achieve steadier electricity supply nationwide by clearing “legacy” arrears owed to power generation companies (GenCos). Speaking at an energy conference in Lagos, Tegbe said the government has already paid about ₦1.23 trillion in past debts and is committed to settling the remaining balance by 2027.
Tegbe also links the effort to the government’s broader aim of improving the financial sustainability of the power sector and attracting investment. He says measures are being put in place to prevent new arrears from accumulating, alongside actions intended to maximise generation capacity and support more reliable electricity for households, businesses and industry. The outlets report the same core timeline and figures, while framing the debt payments as part of wider sector reforms under the Renewed Hope Agenda.
