Minister of Power, Adebayo Adelabu, has announced plans to prioritize the settlement of outstanding debts owed to power plants, including Egbin Power, starting from April. This initiative aims to enhance power supply across Nigeria.
In a statement posted on his X page on Friday, Adelabu highlighted the urgent need to address challenges in Nigeria’s power sector, ranging from infrastructure limitations to supply chain constraints.
Adelabu emphasized, “The Federal Government is fully committed to implementing proactive measures. Starting in April, we will prioritize the settlement of outstanding debts owed to power plants like Egbin Power.”
Acknowledging the critical role of foreign exchange in sustaining power generation companies, Adelabu stated, “This access is crucial for sustaining and improving power output on a national scale.”
The minister also addressed gas supply constraints, acknowledging their impact on gas power plants’ operation. He assured ongoing efforts to tackle gas shortages and ensure a reliable gas supply for power generation.
During his visit to Egbin Power Plant, Adelabu commissioned two projects: the environment-friendly electric vehicles project and expansion projects on staff quarters named after Tinubu.
Commending Egbin Power’s management for their commitment amid challenges, Adelabu expressed optimism about collaborative efforts with stakeholders to enhance the power sector’s long-term sustainability.
