The Digest:
President Bola Tinubu has met with power generation companies (GenCos) to discuss the longstanding debt claims in the power sector. He reassured them of his administration’s commitment to addressing liquidity issues and emphasized a thorough audit process.
Key Points:
- Tinubu meets with GenCos to resolve ₦4 trillion debt claims
- GenCos urged to give the government time for verification and validation
- A ₦4 trillion bond programme received anticipatory approval
- Government agencies are engaging audit firms to scrutinize claims
- Tinubu acknowledges inherited liabilities and stresses transparency
- Electricity sector’s legacy issues now being prioritized
- The President calls for patience from financial institutions to avoid asset foreclosures
President Tinubu commits to resolving the power sector’s financial challenges through a transparent audit process. The government aims to address historic liabilities and create a stable investment environment for the future of Nigeria’s energy sector.
Sources: Channels TV, Punch, TheCable
