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Tue, Oct 13, 2026
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Minister vows steady Power Supply, settlement of all Debts owed Gencos
PRESS RELEASE
Minister of Power, Joseph Tegbe at the Harvard Business School Association of Nigeria Energy Conference
The Federal Government has reaffirmed its commitment to delivering steady electricity to every Nigerian, and says it will finish paying the legacy debts owed to power generation companies (Gencos), while ensuring that vulnerable groups are adequately protected.
The Minister of Power, Joseph Tegbe, made this known recently at the Harvard Business School Association of Nigeria (HBSAN) Energy Conference in Lagos. He said about N1.23trn of the backlog has been paid so far through bonds, with the balance to be cleared next year.
Tegbe in a statement by his Media Aide, Mathew Ibiyemi, noted that the goal goes beyond settling old debts. The government, he said, is determined to ensure such arrears do not build up again, so that the sector can attract investment and deliver reliable power to homes and businesses across the country.
The Minister said the commitment reflects the determination of the administration of President Bola Tinubu to deliver a stable and reliable electricity supply for all Nigerians.
He added that by clearing its obligations to Gencos and making full use of available generation capacity, the Federal Government is building a stronger, more investment-ready power sector in line with the Renewed Hope Agenda, so that homes, businesses and industries can count on steady power to drive growth and prosperity.
Credit Ministry of Power PR
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