A renewed claim by the Presidency that President Bola Tinubu has approved a plan to settle N3.3 trillion in outstanding power sector debts has triggered controversy, with Nigerians questioning why a similar approval was announced nearly two years ago.
In a statement issued on Sunday, Bayo Onanuga, Special Adviser to the President on Information and Strategy, said Tinubu had approved a payment plan to resolve the N3.3 trillion legacy debt in the power sector under the Presidential Power Sector Financial Reforms Programme.
Onanuga explained that the repayment plan followed a final review of debts accumulated in the sector between February 2015 and March 2025.
“The long-standing debts accumulated between February 2015 and March 2025. Following verification, ₦3.3 trillion has been agreed as a full and final settlement, ensuring a fair and transparent resolution,” he said.
According to him, implementation of the programme has already begun, with 15 power plants signing settlement agreements worth ₦2.3 trillion. He added that the Federal Government had raised ₦501 billion to begin the payments.
“Out of the amount, N223 billion has been disbursed, with further payments underway,” Onanuga said, noting that clearing the debts would stabilise electricity generation, strengthen the power value chain and attract more investment into the sector.
Also commenting on the initiative, the President’s Special Adviser on Energy, Olu Arowolo-Verheijen, said the programme was designed to restore confidence in the power sector and ensure that gas suppliers are paid.
“It will ensure gas suppliers are paid, power plants keep running, and the system begins to work more reliably,” she said.
However, the announcement quickly generated debate online after Nigerians recalled that a similar N3.3 trillion debt settlement had already been announced in May 2024.
At the time, Minister of Power Adebayo Adelabu disclosed at the 8th Africa Energy Marketplace in Abuja that President Tinubu had approved the payment of about N3.3 trillion owed across the power sector.
Adelabu had explained that the government’s N1.3 trillion debt to power generation companies would be paid through a combination of cash injections and promissory notes, while about $1.3 billion owed to gas suppliers would be settled through cash payments and future royalties.
The Presidency’s latest announcement has therefore sparked scepticism among many Nigerians, particularly on social media.
One Facebook user, Anagbogu Valentine Chigbogu, accused the government of misleading the public, writing: “Tinubu is just not human… A 419… I knew it was all to deceive the ignorant masses.”
Another commenter, Michael Abah, reacted sarcastically, saying: “It’s called renewed hope.”
Similarly, Anisiobi Elozona mocked the repeated announcement, stating: “The N3.3trn hope has been renewed for 2026. Expect another renewal of the same amount in January 2027.”
Chimnyeremugo Diala criticised what he described as a pattern of announcements without concrete action, saying: “Always planning and no implementation.”
Talabi Ayomide Oluwafemi also questioned the transparency of the programme, asking: “So where the 3.3 trillion naira dey go?”
Another commenter, Anyabuike Anthony Munachi, described the development as a cycle of political messaging rather than genuine reform. “Propaganda prescription… give them now, wait, change the narrative, conjure another abracadabra,” he wrote.
Larry Luther King, however, blamed citizens for not paying closer attention to government announcements, commenting: “Hunger don affect citizens’ thinking ability.”
The debate comes amid growing concerns about the financial health of Nigeria’s power sector. In February, the Association of Power Generation Companies warned that gas suppliers could halt supply to thermal power plants over debts estimated at about N3.3 trillion.
The association had earlier stated that the Federal Government owed power generation companies about N6.5 trillion, a situation widely blamed for the persistent instability in electricity generation across the country.
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