President Bola Tinubu has approved a ₦33 trillion payment plan aimed at restoring reliable electricity supply across Nigeria.
The plan was approved as part of efforts to address long‑standing challenges in the power sector, including irregular supply, infrastructure deficits, and financial instability within the electricity market.
Under the arrangement, funds are expected to be mobilised to settle outstanding debts owed to power generation and distribution companies, a move intended to stabilise the sector’s revenue cycle and encourage improved service delivery.
Government officials say the strategy is intended to support ongoing reforms in the power industry, enhance investment confidence, and promote sustainable electricity access for households and businesses.
The approval underscores the federal government’s commitment to resolving critical infrastructure bottlenecks and ensuring that citizens and enterprises benefit from consistent and dependable energy.
Stakeholders in the sector have called for transparency and effective implementation as the payment plan begins to take effect in the coming months.
