FG to settle outstanding debts owed to power plants from April

Adebayo Adelabu, Minister of Power,conveyed this commitment in a recent post on his official page

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Adebayo Adelabu, Minister of Power, affirmed that his ministry will prioritize settling outstanding debts owed to power plants, including Egbin Power, starting from April.

Adelabu conveyed this commitment in a recent post on his official page. During a recent visit to the Egbin Power Plant, he emphasized that the ministry has conducted a comprehensive assessment of the challenges confronting Nigeria’s power sector.

These challenges range from infrastructure limitations to supply chain constraints, and we are taking urgent action to address them and enhance power supply across the country,” he said.

“To this end, the Federal Government is fully committed to implementing proactive measures. Starting in April, we will prioritize the settlement of outstanding debts owed to power plants like Egbin Power.

“By doing so, our goal is to provide incentives for the continuous operation of these crucial facilities and to enhance their overall efficiency.”

Adelabu acknowledged the importance of ensuring power generation companies have access to crucial foreign exchange for their maintenance and operations.

“This access is crucial for sustaining and improving power output on a national scale. We are taking decisive steps to facilitate this access, recognizing its critical role in the broader context of our energy infrastructure,” he said.

“Our ongoing discussions with the Ministry of Petroleum Resources and gas suppliers are centered on addressing gas supply constraints and facilitating debt repayment.

“Through collaborative efforts with all stakeholders, we are dedicated to finding solutions that will benefit the entire sector and contribute to its long-term sustainability.”

Also, Adelabu said gas shortage has significantly hampered the operation of gas power plants.

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