President Bola Tinubu has authorised the Presidential Power Sector Task Force to raise N4 trillion through a bond programme aimed at settling verified legacy debts in Nigeria’s power sector.
This is part of ongoing reforms to stabilise the country’s unstable power supply.
Speaking during his Democracy Day address on Friday, Tinubu explained that the initiative is being driven through the presidential task force.
According to him, the task force had been mandated to address long-standing liquidity challenges in the electricity value chain, including unpaid obligations that have weighed on generation and distribution companies.
“By 2023, when we came on board, the electricity sector was characterised by chronic generation shortfalls, an unreliable gas supply, and transmission infrastructure so fragile that it could not evacuate available power,” he explained.
