Nigeria pays N220b debt to sustain power supply

BY OUR EDITOR

The Federal Government says it has released a hefty sum of N220 billion to pay for outstanding debts owed companies supplying gas to power generators in the country.

In addition, the government says the money will also cover for advance payment for three months of gas supply to the power companies.

This, according to the government, is to ensure the improvement of electricity supply across the country during the period of the Covid-19 pandemic and beyond.

Minister of Power, Engr Sale Mamman, disclosed this Thursday after a meeting in Abuja with the Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari and the Managing Director of Niger Delta Power Holding Company (NDPHC), Mr Chiedo Ugbo.

“Sequel to my meeting with the GMD of @NNPCgroup Mallam @MKKyari and the MD of @ndphconline Mr. Chiedo Ugbo earlier today (Thursday), the total sum of ₦220 billion has been released representing outstanding debts and 3 months upfront payments to Companies supplying Gas to the Power Sector,” Mamman announced on his Twitter handle.

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He continued: “These payments will ensure tremendous power supply. I would like to assure Nigerians that I and the (Federal Government) @NigeriaGov shall continue to explore all channels available to improve electricity supply across the country during the Covid-19 pandemic and most importantly beyond this period.

“I also want to inform Nigerians that recent efforts to improve the power sector have paid off and that we have recorded significant historic rise in daily generation output of electricity. A formal statement to that effect shall be made available by my office. Thank you.”