Minister of Power Adebayo Adelabu shared these figures during a briefing, highlighting the impact of recent financial discipline and structural reforms on investor confidence.
According to the Minister, the reduction in debt was achieved through a combination of strategic repayments and the reconciliation of accounts between various stakeholders in the energy value chain.
By clearing the bulk of these financial bottlenecks, the government has made the sector more attractive to private capital, which is essential for upgrading aging infrastructure. The new investments are expected to target the expansion of the national grid and the improvement of metering systems across the country.
Adelabu emphasized that the ultimate goal of these fiscal measures is to ensure a self-sustaining electricity market. He noted that as liabilities decrease, DisCos and GenCos are better positioned to fulfill their contractual obligations to consumers.
The government remains optimistic that with the current trajectory of debt clearance and private sector participation, the persistent challenges of grid instability and low power generation will be effectively addressed in the near future.
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Summary
The Nigerian power sector has recorded a significant boost with two billion dollars in new investments following federal government efforts to stabilize the industry. Minister of Power Adebayo Adelabu confirmed that sectoral liabilities have been drastically reduced to 146 billion naira as part of ongoing reforms. The Federal Government has announced that the Nigerian power sector attracted approximately...
Key takeaways
- The Nigerian power sector has recorded a significant boost with two billion dollars in new investments following federal government efforts to stabilize the industry.
- Minister of Power Adebayo Adelabu confirmed that sectoral liabilities have been drastically reduced to 146 billion naira as part of ongoing reforms.
- The Federal Government has announced that the Nigerian power sector attracted approximately two billion dollars in investment over the past year.
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What is this story about?
The Nigerian power sector has recorded a significant boost with two billion dollars in new investments following federal government efforts to stabilize the industry. Minister of Power Adebayo Adelabu confirmed that sectoral liabilities have been drastically reduced to 146 billion naira as part of ongoing reforms. The Federal Government has announced that the Nigerian power sector attracted approximately...
Who published this story?
Glow 99.1 FM published this story with Oyebade Oluwatobiloba listed as author.
When was it published?
March 26, 2026
