Senan Murray

Journalist. Farmer. Book lover. Culture and politics enthusiast.

[EnergyReformsNG @EnergyReformsNG]

OFFICE OF THE SPECIAL ADVISER TO THE PRESIDENT ON ENERGY — PRESS RELEASE

FG, GenCos Finalize Implementation Framework for ₦4 Trillion Presidential Power Sector Debt Reduction Plan

Abuja, 14 October 2025- The Federal Government of Nigeria has taken a major step toward restoring financial stability and investor confidence in the electricity market with the finalization of the implementation framework for the Presidential Power Sector Debt Reduction Plan, a landmark initiative approved by President Bola Ahmed Tinubu to address structural bottlenecks and lay the groundwork for large-scale private sector-led investment and sustained economic growth.

On Tuesday, 7 October 2025, in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, the Minister of Power, Chief Bayo Adelabu, and the Special Adviser to the President on Energy, Mrs. Olu Verheijen, met with senior executives of Nigeria’s electricity generation companies (GenCos) to review settlement modalities for the outstanding debt. The meeting concluded with a consensus on the way forward, which includes conducting bilateral negotiations to finalize full and final settlement agreements that balance fiscal realities with the financial constraints of the GenCos.

Approved by President Tinubu and endorsed by the Federal Executive Council (FEC) in August 2025, the plan authorizes the issuance of up to ₦4 trillion in government-backed bonds to settle verified arrears owed to generation companies and gas suppliers. This intervention, the largest in over a decade, addresses a legacy debt overhang that has constrained investment, weakened utility balance sheets, and hindered reliable power delivery across the country.

“For the first time in years, we are seeing a credible and systematic effort by government to tackle the root liquidity challenges in the power sector,” said Mr. Tony Elumelu, Chairman of Heirs Holdings and Transcorp Power. “We commend President Tinubu and his economic team for this bold and transformative step.”

Mr. Kola Adesina, Group Managing Director of @iamsaharagroup, echoed this sentiment: “This initiative is significant in every respect. It gives us renewed confidence in the reform process and a clear signal that the government is serious about building a sustainable power sector.”

Beyond clearing arrears, the debt reduction plan signals a strategic reset of Nigeria’s electricity market. By restoring the financial health of power companies, it will enable new investment in generation capacity, modernize grid infrastructure, and deliver more reliable electricity to homes and businesses, creating a stronger foundation for industrialization, job creation, and inclusive economic growth.

“Our focus is on creating the right conditions for investment, from modernizing the grid and improving distribution to scaling embedded generation,” said Mrs. @OluVerheijen, Special Adviser to the President on Energy. “By closing metering gaps, aligning tariffs with efficient costs, improving subsidy targeting to support the poor and vulnerable, and restoring regulatory trust, we are shifting from crisis response to sustained delivery and building the confidence needed to attract large-scale private capital.”

“These reforms go beyond liquidity,” said Mr. Edun. “They are about rebuilding the fundamentals so that Nigeria’s power sector works for investors, for citizens, and for the next generation. This is how we create the enabling conditions for sustained private investment and transform reliable power into a catalyst for economic growth.”

Complementary efforts to scale renewable energy, leverage domestic gas as a transition fuel, and build local technical and institutional capacity will position Nigeria not just for energy security, but for energy sovereignty, creating one of Africa’s most attractive power markets.

The Presidential Power Sector Debt Reduction Plan is being jointly implemented by the Federal Ministry of Finance, the Federal Ministry of Power, and the Office of the Special Adviser to the President on Energy, in collaboration with the Nigerian Bulk Electricity Trading (NBET) Plc and other key stakeholders.

Media Contact:
Senan Murray
Media and Communications Unit
Office of the Special Adviser to the President on Energy
Abuja, Nigeria
[email protected]

[Senan Murray @SenanMurray]

@FRSCNigeria I applied for a reissue of my expired National Drivers Licence on 20 November 2024. Nearly a year later, I have yet to receive the licence I applied and paid for. The temporary slip I was given expired on 02 February 2025.

Is this normal, @FRSCNigeria ?

[Senan Murray @SenanMurray]

@FRSCNigeria I want to find out how long it actually takes to reissue a Nigerian National Drivers Licence. I applied for renewal since 20 November 2024. I’m still being told that it’s not ready. Meanwhile the temporary licence I was given expired since 2 February 2025!

[Senan Murray @SenanMurray]

@FRSCNigeria I want to know the actual time it takes for a drivers licence to be ready after capture. I was issued a temporary licence after my capture on 29 November 2024. The temporary one the FRSC issued me expired on 2/2/2025. What happens to me now?

[EnergyReformsNG @EnergyReformsNG]

In power sector, FG prioritizes metering, debt reduction, and protection of the most vulnerable Nigerians
– Rollout of smart meters starting 2025 will end estimated billing for 7 million households

ABUJA, 03 February 2025 — It has become necessary to clarify media reports suggesting an imminent 65 percent increase in electricity tariffs.
This is a misrepresentation of what I actually said in a recent press interview. I highlighted the fact that, following the increase in Band A tariffs in 2024, current tariffs now cover approximately 65 percent of the actual cost of supplying electricity, with the Federal government continuing to subsidize the difference.

Also, while the government is indeed committed to ensuring fairer pricing over the long term, the immediate focus is on taking decisive action to deliver more electricity to Nigerians, ensure fewer outages, and guarantee the protection of the poorest and most vulnerable Nigerians.

In line with these, the Federal government’s power sector priorities include:

Targeted Electricity Subsidies:
Today, the Federal government spends over ₦200 billion per month on electricity subsidies, but much of this support benefits the wealthiest 25 percent of Nigerians rather than those who truly need assistance.
To address this, the Federal government is working towards a targeted subsidy system to ensure that low-income households receive the most support. This approach will make electricity more affordable and accessible for millions of hardworking families.

Presidential Metering Initiative (PMI):
One of the most significant steps in this reform is the Presidential Metering Initiative, which is accelerating the nationwide rollout of 7 million prepaid meters, starting this year.
This will finally put an end to the practice of estimated billing, giving consumers confidence in what they are paying for and ensuring transparency in electricity charges.

Metering will also improve revenue collection across the sector and will attract the investments needed to strengthen Nigeria’s power infrastructure.

Settlement of Legacy Power Debt:
Furthermore, the Federal government is addressing one of the major roadblocks to improved service, the mounting debts owed to power generation companies.
For years, these debts have prevented investments in new infrastructure and hampered efforts to improve electricity supply.

By clearing these outstanding obligations, the government is ensuring that power companies can reinvest in better service delivery, stronger infrastructure, and a more stable electricity supply for all Nigerians

Reducing Costs for Alternative Power Generation:
Through a range of fiscal incentives, including VAT and Customs Duty Waivers, the Federal Government is working to lower the cost of alternative power sources such as Compressed Natural Gas and Liquified Petroleum Gas.

The government fully understands the economic realities facing citizens and is committed to ensuring that reforms in the power sector lead to tangible improvements in people’s daily lives.

Every policy is designed with the Nigerian people in mind — eliminating unfair estimated billing, ensuring that subsidies benefit the right people, and creating the conditions for stable, affordable electricity.

These reforms are laying the foundation for better service delivery, expanded access to electricity for homes and businesses, and unlocking prosperity for all Nigerians.

Signed
Olu Arowolo Verheijen
Special Adviser to the President on Energy

[Senan Murray @SenanMurray]

Download the full report and explore our policy documents and resources at https://t.co/B9q8yWbJX4

[Olu Verheijen @OluVerheijen]

Download the 2024 Energy Reforms document from the Office of the Special Adviser to the President on Energy, here: https://t.co/0JW07SVqdX

Read my Op-Ed, "New investment shows Nigeria’s 2024 energy reforms are working", here: https://t.co/SdkZDS0M9d

[tEeJustine @tEeJustine]

December 20th we feast🦅

@Tunde_OD
@ibrahimvivian51
@SenanMurray
@the_career_guy
@pwajok_jane
@CatiaKyen

[Stir360 Magazine @stir360]

Chief @SenanMurray,

A journalist, farmer, book lover, and passionate culture and politics enthusiast, recently shared his inspiring journey with Stir360 Magazine.

From the creeks of Opalo to the prestigious pages of The New York Times, BBC, and other global stages.

#Stir360

[Senan Murray @SenanMurray]

@JumiaNigeria Shopping on Jumia Nigeria is an absolute nightmare. The disrespect and terrible customer service are unmatched! I will never repeat the mistake of shopping on https://t.co/1DyFKurN9Q again - ever!

[Senan Murray @SenanMurray]

@gtbank What is happening at GTB today? Neither the GT World app nor the online banking platform https://t.co/41eQ6rSjYH is running.
@gtbank_help

[Senan Murray @SenanMurray]

Nigeria’s Minister of State, Police Affairs, Imaan Sulaiman-Ibrahim @hms_police doesn’t think there’s a difference between protesters and Protestants. Maybe she’s right?

Watched her being interviewed on @ARISEtv a moment ago.
#EndBadGovernace #EndBadGovernanceInNigeria

[Senan Murray @SenanMurray]

Once you discover the ease and comfort that come with giving up, you become a coward for the rest of your life. But once you taste the sheer joy of triumph, struggle and optimism become your oxygen.

[Senan Murray @SenanMurray]

@ClassicFM973 My Baby by Nigerian singer Bez

[Senan Murray @SenanMurray]

Here’s a thought: Let’s rebrand and re-introduce Francis Ngannou to boxing. First order of business: get rid of that his silly haircut, ink a Tyson-esque tat on his temple and put Dana White in front of him - the predator just might be revealed. #BoxingNews

[Senan Murray @SenanMurray]

Selling even more crude oil will not address the galloping inflation in Nigeria. To deal with inflation, we must produce our own food, lots of it. To do that, farmers must be able to go to their farms. And to do that, farmers must feel safe. Solution: Start with insecurity.

[Senan Murray @SenanMurray]

Food prices have been soaring for a while now, consistently hitting double-digit inflation - climbing to 33.93% in December 2023, according to Nigeria’s National Bureau of Statistics (NBS).

[Senan Murray @SenanMurray]

At a staggering 28.92%, this is the highest inflation rate Nigeria has seen in 21 years - according to data from Nigeria’s National Bureau of Statistics (NBS).

[Senan Murray @SenanMurray]

@bashitolinus1 DIY - do it yourself.

[Senan Murray @SenanMurray]

The most important day of your life is the day you realise that all of life is a DIY affair.

You’re going to mess up. And you’re going to get better.

[Senan Murray @SenanMurray]

@UberNigeria What I want to know is why the fuss about the nose mask for the passenger when your drivers no longer wear them? I haven't seen a single Uber driver wearing a mask in more than two months now. But you need to take a photo to prove to your AI that I have a mask on?