Group commends Tinubu’s N3t power debt settlement move

Civil society group Hope Alive Initiative (HAI) has commended President Bola Ahmed Tinubu for approving the settlement of about N3trillion owed to electricity companies.

The group described the move as a major step toward reviving Nigeria’s power sector and restoring stability.

In a statement released on Friday by its Director of Press and Communications, Ernest Omo, the organisation said the decision reflects strong leadership and a clear commitment to reform.

It noted that Nigeria’s electricity sector has long struggled with debt, inefficiencies and weak investor confidence, limiting its ability to deliver reliable power supply.

“It is a strategic intervention that removes a major obstacle to progress in the sector,” the statement said.

The group added that clearing the debt would boost confidence among generation and distribution companies, attract new investment and improve service delivery across the country.

HAI said reliable electricity remains central to industrial growth, job creation and innovation, noting that the intervention could reposition the sector to support wider economic goals.

It also urged Nigerians to see the move as a signal to investors that the country is committed to reforms and building a transparent electricity market.

According to the organisation, improved financial stability could unlock partnerships and speed up the modernisation of power infrastructure nationwide.

While acknowledging the impact of poor electricity supply on productivity and living standards, HAI said the intervention could lead to more stable power and reduce reliance on alternative energy sources.

The group, however, called on electricity companies to match the government’s efforts with improved service delivery, while urging citizens to support ongoing reforms.