Minister of Power, Adebayo Adelabu, has revealed that President Bola Tinubu is expected to meet with the leadership of Nigeria’s power-generating companies (GenCos) as part of an emergency effort to address the ₦4 trillion debt threatening to cripple the country’s electricity supply chain.
The move follows a high-level meeting on Tuesday, April 29, 2025, between Adelabu and the chairmen of GenCos in Abuja, amid mounting fears of a possible collapse of the national grid due to liquidity constraints in the sector.
GenCos had warned the Federal Government about the continued accumulation of debts now totaling over ₦4 trillion.
In a statement issued on Sunday, May 4, 2025, by the minister’s Special Adviser on Strategic Communications and Media Relations, Bolaji Tunji, Adelabu said the Federal Government had resolved to settle a substantial portion of the debt immediately while the remainder would be cleared through financial instruments such as promissory notes within the next six months.
He said this would be proposed in a planned meeting between Tinubu and GenCos’ leadership.
Adelabu emphasized the Federal Government’s determination to prevent a collapse of the power sector, describing the situation as a national emergency.