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“The payments are actually in two parts, but we have the legacy debt and we have the current debt. For the current debt, approval has been given for cash payments of about N130 billion from the gas and stabilisation fund, which the federal ministry of finance will pay or even already paid, not very sure,” Mr Adelabu said.that the indebtedness of the country’s power sector to electricity generating companies and gas companies had risen to over N3 trillion.
Whether you turn to Premium Times for daily updates, in-depth investigations into pressing national issues, or entertaining trending stories, we value your readership. “The last figure we quoted was $1.3 billion, which we believe will go a long way to encourage these gas companies into entering into firm supply contracts with the power generating companies.
He explained that the modality of paying this would be in two ways, noting that there will be immediate cash injection. At Premium Times, we firmly believe in the importance of high-quality journalism. Recognizing that not everyone can afford costly news subscriptions, we are dedicated to delivering meticulously researched, fact-checked news that remains freely accessible to all.