PRESIDENT TINUBU TO MEET GENCOS OVER N4TRILLION DEBT.

President Bola Tinubu is expected to meet with power Generation Companies (GenCos) to discuss a N4 trillion debt owed to them. 

This was announced by the Minister of Power, Adebayo Adelabu, in a statement issued on Sunday by his media aide, Bolaji Tunji, assuring that the government will prioritize immediate payment of a significant amount of the debt, while the balance will be settled through financial instruments like promissory notes within six months.

The GenCos had previously warned that the massive debt was crippling their operations, leaving them unable to secure loans or maintain critical infrastructure, thereby putting the entire power ecosystem at risk of collapse, and the government has now announced plans to implement reforms to ease operational bottlenecks and promote full liberalization of the power sector. 

##UTVAfrica##