FG Assures Egbin Power on Debt Settlement and Enhanced Gas Supply
The Minister of Power, Adebayo Adelabu, has confirmed the Federal Government’s commitment to gradually pay off the debt owed to Egbin Power, Nigeria’s largest power generation company, starting in April. He also addressed challenges related to gas supply and foreign exchange constraints during his visit to the power plant.
Expressing the government’s commitment, the Minister stated, “The Federal Government is prioritizing payment of the outstanding debt, and effective April, we will commence payments to encourage Egbin Power to continue its operations.”
Regarding forex challenges faced by power generation companies, the Minister emphasized steps being taken to prioritize forex allocation to ensure the sector’s efficiency and maintenance needs are met.
On the issue of gas supply, the Minister revealed engagements with the Ministry of Petroleum Resources and gas suppliers to guarantee debt payment and resolve gas supply constraints.
CEO of Egbin Power, Mokhtar Bounour, highlighted the challenges faced by the plant, including gas constraints and accumulated debt, and commended the Minister’s commitment to addressing these issues.
The Minister’s visit underscores the government’s efforts to strengthen stakeholder understanding, support power sector players, and enhance power supply across Nigeria.
