Tinubu’s N3tn Electricity Debt Settlement Will Boost Investor Confidence — HAI

The Hope Alive Initiative (HAI) says President Bola Tinubu’s recent approval of about N3tn to settle debts owed to electricity companies will boost investor confidence in Nigeria’s troubled power sector.

The civil society organisation said the move will send a strong signal to both local and international investors that the administration is committed to reforms and ready to address long-standing structural challenges in the electricity market.

HAI, in a statement by Ernest Omo, director of press and communications, noted that Nigeria’s power sector has for decades struggled under the weight of mounting debt, operational inefficiencies, and low investor confidence.

These, Omo said, have limited its ability to deliver reliable electricity to homes and businesses.

“It (debt settlement) is a strategic intervention that removes a major obstacle to progress in the sector,” he said.

He added that reliable electricity remains critical to industrialisation, job creation, and innovation.

HAI expressed optimism that the development would reposition Nigeria’s energy sector to support broader economic ambitions and enhance competitiveness within Africa.

The group also urged Nigerians to view the debt settlement as a signal to both local and international investors that the country is serious about reforms and committed to creating a more transparent and viable electricity market.

It added that improved financial stability in the sector could unlock new partnerships and accelerate the modernisation of power infrastructure across the country.

The organisation further called on electricity companies to reciprocate the government’s efforts by improving service delivery.