President Bola Tinubu is expected to meet with the leadership of Nigeria’s power-generating companies as part of an emergency effort to address the N4tn debt threatening to cripple the country’s electricity supply chain.
The move follows a high-level meeting on Tuesday between the Minister of Power, Adebayo Adelabu, and chairmen of Gencos in Abuja, amid mounting fears of a possible collapse of the national grid due to liquidity constraints in the sector, according to a statement from the power ministry on Sunday.
The government pledged immediate action to reduce the N4tn debt owed to power generation companies.