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FG Moves To Address Electricity Blackout, Clears $120 Million Of $1.3 Billion Gas Debt
Eko Hot Blog reports that The Nigerian Government has announced that it has settled $120 million out of the $1.3 billion gas debt.
President Bola Tinubu
The gas debt has being a major determinant in the unresolved electricity supply challenge plaguing the nation.
Recall that the electricity consumers in Nigeria have continued to suffer electricity outages since January this year.
The Minister of Power, Adebayo Adelabu, had blamed gas constraints for the drop in power supply in Nigeria.
Despite setting up a committee to tackle the challenge, the country’s power supply shortage persisted.
The recent vandalization of the Transmission Company of Nigeria’s Tower 70 along the 33kV Gwagwalada-Katampe line has further worsened the electricity challenge in the country.
Addressing the situation at the ongoing 7th Nigeria International Energy Summit in Abuja, the Decade of Gas Secretariat Director, Ed Ubong stated that the government has paid over $120 million.
Minister of Power, Adebayo Adelabu
According to him, “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.”
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