Tinubu Approves ₦3.3 Trillion ‘Final Settlement’ to End Electricity Crisis; 15 Power Plants Sign Peace Deals as FG Begins Billion-Naira Payouts

The Federal Government has “flipped the script” on Nigeria’s perennial power outages by launching a massive ₦3.3 trillion financial rescue mission. President Bola Tinubu approved a comprehensive payment plan designed to wipe out the “legacy debts” that have acted as a chokehold on the nation’s electricity supply for the last ten years. The “Solution” to the liquidity crisis involves a transparent verification process that has finally put a definitive price tag on what the government owes the power value chain.

Special Adviser to the President on Energy, Olu Arowolo-Verheijen, explained that this move is about much more than just writing checks. “This programme is about restoring confidence. It ensures gas suppliers are paid, power plants can keep running, and the system begins to work more reliably for all Nigerians,” she stated. The “Renewed Hope” for a stable national grid is already seeing results, with ₦223 billion already hitting the accounts of critical stakeholders to ensure that “load shedding” becomes a thing of the past.

The initiative is a cornerstone of the broader Presidential Power Sector Financial Reforms Programme, which links these payments to improved service delivery and better metering for consumers. By clearing the ₦3.3 trillion backlog accrued since 2015, the administration is effectively “resetting the clock” for the energy market, making it more attractive for private investors who have previously been scared off by the sector’s mounting debts.

As the first phase of disbursements continues, the Presidency has confirmed that “Series II” of the reform will kick off before the end of June. For the average Nigerian business and household, this ₦3.3 trillion intervention represents the most significant step yet toward a future where “up NEPA” is no longer part of the daily vocabulary. The goal remains simple: a power system that finally works as hard as the people it serves.