President Bola Tinubu will meet with the leadership of electricity-generating companies over the N4 trillion power sector debt.
A statement by the Special Adviser, Strategic Communications and Media Relations to the Minister of Power, Adebayo Adelabu, Bolaji Tunji, on Sunday, said the Federal Government vowed to urgently address the debt following high-stakes talks between Adelabu and chairmen of Generating GenCos in Abuja on Tuesday.
He said FG’s intervention is aimed at averting an imminent collapse of the power infrastructure in the country.
According to the statement, the minister assured GenCos executives that the government would prioritise immediate payment of a significant amount out of the N4tn debt, while the balance would be defrayed through other debt instruments.
He said this would be proposed in a meeting being planned between President Tinubu and GenCos’ leadership.
