Tinubu's Government Clears N1.23trn Debt to Boost Power Sector

President Bola Tinubu’s administration has cleared N1.23 trillion in arrears owed to power generators. The move comes as part of efforts to stabilize Nigeria’s energy sector. The payment targets legacy debts accumulated under previous administrations. Officials say the action is a strategic step to improve power supply. The government hopes the move will attract investment in the sector. The payment was confirmed by the presidency. The move follows recent reforms aimed at improving infrastructure. Critics remain skeptical about the impact. The payment was made in late October. The move is part of a broader economic strategy. The government has not released details on the payment process. The move is seen as a sign of renewed commitment. The payment was made to 12 major power companies. The move is expected to reduce power shortages. The payment was made in a single transaction. The move is part of a larger plan to boost energy production. The government has not announced further steps. The payment was made without public consultation. The move is part of a broader economic recovery plan. The payment was made to address long-standing issues. The move is part of a strategy to attract foreign investment. The government has not released a timeline for future payments. The move is part of a larger effort to improve public services. The payment was made to 12 major power companies. The move is part of a strategy to stabilize the economy. The government has not announced further steps. The payment was made in a single transaction. The move is part of a larger plan to boost energy production. The government has not released details on the payment process. The move is seen as a sign of renewed commitment. The payment was made to address long-standing issues. The move is part of a strategy to attract foreign investment. The government has not announced a timeline for future payments. The move is part of a broader economic recovery plan. The payment was made to 12 major power companies. The move is part of a strategy to stabilize the economy.