Power crisis: GenCos kick as Tinubu approves N3.3tn to clear legacy debt

President Bola Tinubu announced a plan to offset a legacy debt of N3.3 trillion owed to generation companies, following criticism from Peter Obi. The approved payment plan came after verification of the debt, which had risen to N6 trillion. While the government has begun implementing the plan, the Association of Power Generation Companies expressed dissatisfaction with the reduction of the debt. Tinubu's promises regarding improvements in electricity supply remain unfulfilled.