Nigeria’s Minister of Power, Adebayo Adelabu, has disclosed that he inherited a staggering ₦4 trillion debt in the country’s power sector upon assuming office, highlighting the scale of financial challenges facing the industry.
Adelabu made this known while addressing stakeholders, noting that the accumulated liabilities have significantly hindered efforts to improve electricity generation, transmission, and distribution across the country. According to him, the debt burden has affected the liquidity of key players in the sector, including generation and distribution companies.
He explained that resolving the financial crisis remains a top priority for the government, as it is crucial to stabilizing the power sector and ensuring consistent electricity supply to Nigerians. Adelabu emphasized that ongoing reforms are aimed at addressing structural inefficiencies, improving revenue collection, and restoring investor confidence.
The minister also called for collaboration among stakeholders, stressing that sustainable solutions would require coordinated efforts between the government, private sector operators, and regulatory bodies.
Despite the challenges, Adelabu expressed optimism that with the right policies and financial interventions, Nigeria’s power sector can gradually overcome its current difficulties and deliver improved services nationwide.
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