JUST IN: FG Pays $120M Debt To End Blackout

The Nigerian Government has announced progress in addressing the nation’s longstanding electricity supply challenge, revealing that it has settled N120 million of the $1.3 billion gas debt contributing to the issue.

Ed Ubong, Director of the Decade of Gas Secretariat, shared this update on Thursday during the ongoing 7th Nigeria International Energy Summit in Abuja. He stated, “As of last year, that (gas debts) was about $1.3 billion, depending on how you add up the numbers. But I am pleased that the government has paid over $120 million between October and the end of January to offset some of that money.”

The ongoing electricity outages in Nigeria, experienced since January, have been attributed to gas constraints by the Minister of Power, Adebayo Adelabu. Despite efforts, including the formation of a committee to address the challenge, the power supply shortage persisted.

Furthermore, the recent vandalization of the Transmission Company of Nigeria’s Tower 70 along the 33kV Gwagwalada-Katampe line has exacerbated the electricity challenge in the country.