16th July 2024

JUST IN: Tinubu Orders Ministry Of Finance To Pay Debts Owed To GenCos

President Bola Ahmed Tinubu has directed the Ministry of Finance to settle the debt owed in respect of gas supplied to the power sector.

He has also given directive for the payment of the debt owed the electricity Generation Companies (GenCos) with a payment guarantee.

The Minister of Power, Chief Adebayo Adelabu, stated these in Abuja during the ongoing 8th African Energy Market Place with the theme: “Towards Nigeria ‘s Sustainable Energy Future: Policy, Regulation and Investment – A Policy Dialogue for the National Integrated Electricity Policy and Strategic Implementation Plan (NIEP-SIP).”

Adelabu, who said the supply of electricity has increased due to the implementation of the Electricity Act 2023 and the band A tariff, added that the electricity Distribution Companies (DisCos) are requesting for more load for onward distribution to the customers.

Details shortly…

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