The Presidency wishes to update Nigerians on progress under the Presidential Power Sector Financial Reforms Programme.

The Programme is addressing long-standing debts in the power sector accumulated between February 2015 and March 2025. Following verification, ₦3.3 trillion has been agreed as full and final settlement, ensuring a fair and transparent resolution.

Implementation has begun at scale: • 15 power plants have signed ₦2.3 trillion in settlement agreements • The Federal Government has already raised ₦501 billion to fund these payments • ₦223 billion has already been disbursed, with further payments underway

What this means for Nigerians: • Payments are reaching the power value chain → more stable generation • Power plants are being supported → improved electricity reliability • The sector is stabilising → more investment, more jobs, and better service

This Programme is not just about settling legacy debts. It is about restoring confidence across the power sector — ensuring gas suppliers are paid, power plants can keep running, and the system begins to work more reliably.

It is part of a broader set of reforms already underway — including better metering and service-based tariffs that link what you pay to the quality of electricity you receive.

The government is also prioritising power supply to businesses, industries, and small enterprises — because reliable electricity is critical to creating jobs, supporting livelihoods, and growing the economy.

The goal is simple: more reliable power for homes, stronger support for businesses, and a system that works better for all Nigerians.

The Presidency commends stakeholders supporting this effort and confirms that the next phase (Series II) will begin this quarter. phase (Series II) will begin this quarter.