Nigeria to Introduce Pay-as-You-Go Electricity Payment After Clearing N4 Trillion Debt

Why FG is Liquidating N4trn Legacy Electricity Debt - InsideBusiness - Business News in Nigeria

There is an indication that the federal government is liquidating the N4 trillion legacy electricity debt to pave the way for Nigeria to benefit from the World Bank/African Development Bank (AfDB) $48 billion intervention fund for electricity access to 300 million people in Africa by 2030. The government, which, at a meeting with the operators last month, announced the option of a N4 trillion bond program to settle the legacy debt, which the Pow…

*FG fast-tracks drive to clear N4trn power debt, end subsidy (Leadership)*COZA’s Fatoyinbo apologises after backlash over ‘no money’ comment on CAC’s Ayo Babalola (Punch)

FG fast-tracks drive to clear N4trn power debt, end subsidy (Leadership) The federal government has begun an accelerated plan to clear the outstanding N4 trillion electricity debt and end the long-standing power subsidy amid a constrained fiscal environment triggered by significant revenue shortfalls. This move, announced by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, underscores the government’s commitment to f…

Nigeria to introduce pay-as-you-go electricity payment after clearing N4 trillion debt

The Nigerian government plans to implement a pay-as-you-go electricity payment system to phase out subsidies and clear a N4 trillion debt in the energy sector.

Nigeria Considers Bond Issuance, Others to Clear N4trn Electricity Debt

By Adedapo Adesanya The Nigerian government may issue bonds and other instruments for the payment of N4 trillion owed players inn the electricity sector to help stabilise the nation’s ailing power industry and improve supply. The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, on Wednesday confirmed the presentation of a […]

Federal Gov't Mulls Pay-As-You-Go For Electricity Sector

The federal government has announced a plan to introduce a pay-as-you-go model of payment for electricity consumption as part of efforts to end government-sponsored subsidy for the sector. Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made the disclosure on Thursday at a media briefing in Abuja. The minister also disclosed that revenue allocation to sub-nationals has been increased from N2.1trillion to over N7trillion …

Nigeria approves $2.6bln electricity sector debt refinancing plan

The debt, primarily owed to 27 power generation companies for outstanding invoices between 2015 and 2023