Nigeria’s power billionaires set for $2.7bn windfall

Nigeria’s power billionaires set for $2.7bn windfall

Nigeria’s biggest names in the electricity business are quietly preparing for what could be their most significant cash injection in years. The federal government has struck a deal with power generation companies to settle a staggering ₦4 trillion ($2.7 billion) in unpaid bills—a crippling backlog that has hobbled investment and limited how much power these plants can actually produce.For Femi Otedola, the billionaire who controls Geregu Power P…