President Bola Ahmed Tinubu has approved a ₦4 trillion bond to settle verified debts owed to power generation companies (GenCos) and gas suppliers, as part of efforts to stabilize the country’s electricity market and rebuild investor confidence.

The Minister of Power, Bayo Adelabu, announced the approval during the 31st Nigerian Economic Summit in Abuja, explaining that the initiative forms a key component of President Tinubu’s Renewed Hope Agenda. According to him, the bond will help improve liquidity across the power value chain, enhance electricity generation and distribution, and ensure a more reliable energy supply nationwide.

Adelabu added that the measure would resolve long-standing legacy debts that have hindered the operations of GenCos and gas suppliers, providing financial relief and restoring trust within the sector. The government, he said, is also developing a targeted subsidy plan to protect vulnerable households while working toward full commercial viability of the electricity industry.