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Power minister promises quick restoration of electricity supply

Minister of Power Adebayo Adelabu has assured Nigerians that electricity supply will be rapidly restored after a sharp nationwide drop in power in recent days. He said the disruption is temporary and linked to a sudden shortfall in generation caused by damage to critical gas infrastructure.​ According to the minister, the decline followed an explosion on the Escravos–Lagos Gas Pipeline and acts of vandalism on other gas facilities feeding several major thermal power plants. These incidents cut gas supply, forcing many gas fired stations to reduce output and leading to reduced power on the national grid.​ Adelabu spoke after a meeting with key sector stakeholders, including the National Independent System Operator, Transmission Company of Nigeria, generation companies and distribution companies. He said repairs to the affected pipelines are nearing completion and that full operations are expected to resume within 24 […]

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Tinubu Seeks Time to Verify ₦4 Trillion GENCOs Debt as Power Sector Crisis Deepens

⚡ Tinubu’s ₦4 Trillion Power Sector Dilemma President Bola Tinubu has appealed to power generation companies (GENCOs) for more time to audit Nigeria’s ₦4 trillion electricity debt, while proposing a bond program to resolve the liquidity crisis crippling the sector. 🔢 Key Numbers: ₦4 trillion: Total debt claims by GENCOs (2015–2023) ₦1.8 trillion: Verified so far by NBET 0 national grid collapses in 2025 (reform progress) "Give us time to verify these numbers—only valid debts will be paid." — President Tinubu Why This Debt Crisis Matters 💸 Financial Time Bomb: GENCOs owe banks trillions, risking foreclosures Unpaid gas suppliers threaten 800M cubic feet of supply ⚡ Operational Risks: GENCOs warn of nationwide blackouts if debts persist Investor confidence hangs in balance 📈 Reform Progress at Stake: Grid stability improved (5,801MW peak generation) 70% revenue growth in power sector (₦1.7tn in 2024) Tinubu’s 3-Pronged Approach 1️⃣ Debt Verification Audit firms reviewing 27 GENCOs’ claims Only legitimate debts to be included in bond issuance 2️⃣ ₦4 Trillion Bond […]

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