Tinubu approves ₦3.3trn payment plan to restore reliable electricity

President Bola Tinubu has approved a payment plan to settle outstanding debts in the electricity sector, totaling ₦3.3 trillion. This plan aims to stabilize electricity generation and improve service reliability. Fifteen power plants have already signed settlement agreements totaling ₦2.3 trillion, with ₦501 billion already raised to fund these payments. The government is also prioritizing electricity supply to businesses and small enterprises.