Presidency clarifies ₦3.3trn settlement plan approved for GenCos by Tinubu
The Presidency has clarified the controversy surrounding the ₦3.3 trillion debt settlement plan approved by President Bola Tinubu for power generation companies, insisting the initiative is a structured reform effort rather than a reward for unverified claims.
In a statement, the Presidency said: “The Federal Government of Nigeria is implementing a structured and balanced reform programme to address longstanding financial challenges in the power sector.”
It added: “At the core of this effort is a market-based settlement mechanism designed to restore the sector, not reward accumulated claims that extend beyond verifiable service delivery. The objective is to ensure fairness to operators while also protecting the interest of the Nigerian public.”
The clarification followed concerns ...










