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Offset gas, GenCos debts now – Tinubu orders Finance Ministry

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President Bola Ahmed Tinubu has ordered the Ministry of Finance to settle the debt owed in respect of gas supplied to the power sector. He also ordered for the payment of the debt owed the electricity Generation Companies (GenCos) with a payment guarantee.

President Bola Ahmed Tinubu has ordered the Ministry of Finance to settle the debt owed in respect of gas supplied to the power sector. He also ordered for the payment of the debt owed the electricity Generation Companies with a payment guarantee.

” He said that the band A electricity tariff that came to force on April 3, 2024 has reduced the cost of production by 40%. Adelabu also revealed that with the generation of 700MW from Zungeru hydroelectric power plant, the Nigerian Electricity Supply Industry has recorded a new feat of 5,000MW.

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