The federal government has introduced the Presidential Power Sector Debt Reduction Programme, a new intervention designed to improve liquidity in Nigeria’s electricity market and boost investor confidence. The announcement was made by the Special Adviser to President Bola Tinubu on Energy, Olu Verheijen, who shared the update through a post on her X handle. She explained that the programme is the result of months of close collaboration among major institutions working in the power sector.
According to Verheijen, the Federal Ministry of Finance, the Federal Ministry of Power, the Nigerian Bulk Electricity Trading, the Nigerian Electricity Regulatory Commission, and power generation companies jointly reviewed outstanding claims and agreed on debt-settlement frameworks aimed at stabilising the market. She said the effort was targeted at creating a more reliable structure for financial recovery in the sector.
The programme was presented during a virtual investor forum hosted by the Ministries of Finance and Power in partnership with the Office of the Special Adviser on Energy. The meeting included remarks from the Minister of Finance and Coordinating Minister of the Economy, Olawale Edun; the Minister of Power, Chief Adebayo Adelabu; and Verheijen.
