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Tinubu Approves Gradual Payment of N3.3trn Power Sector Debt

Tinubu G20 Summit

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By Adedapo Adesanya The Minister of Power, Mr Adebayo Adelabu, has disclosed that President Bola Tinubu has approved the gradual payment of power sector debts estimated at over N3.3 trillion as part of the measures to tackle power outages in the country head-on. Following the approval, the N1.3 trillion the federal government owes the power-generating companies will be paid via cash injections and promissory notes while about $1.3 billion (N2 trillion using the current official closing rate) owed to gas companies will be paid via cash and future royalties. Mr Adelabu said the FG  has commenced the payment of the

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