The federal government yesterday said it had offset N205 billion from the N1.3 trillion debt owed Generation Companies (Gencos) to raise the level of liquidity in the power sector.
The government also stated that the noticeable improvement in electricity supply in parts of the country was not an accident but due to recent efforts of the Bola Tinubu administration.
Speaking in Abuja, during an oversight visit by the House of Representatives Committee on Power, Minister of Power, Adebayo Adelabu, explained that the lawmakers must continue to pile pressure on the executive to ensure that debts owed players in the sector were paid.
Adelabu said, “In terms of markets and liquidity, government is also owing these companies, but they have started paying them little by little. Just about three weeks ago, out of the about N1.3 trillion we owe the Generation Companies, we were able to pay them N205 billion.
“But I will plead with the members of the House committee to help us mount pressure on the executive to continue to pay these people.”
