The Hope Alive Initiative (HAI) praised President Bola Ahmed Tinubu for approving the settlement of roughly N3 trillion owed to electricity companies. In a statement released on Friday, the civil‑society group said the decision shows strong leadership and a clear commitment to stabilising the power sector and fostering economic growth.
Ernest Omo, HAI's director of press and communications, noted that Nigeria's electricity industry has for decades been burdened by rising debt, operational inefficiencies and low investor confidence, which have limited reliable supply to homes and businesses. The organisation argued that clearing the debt burden will restore confidence among generation and distribution firms, attract fresh investment and improve service delivery across the country.
HAI called the move a strategic intervention that removes a major obstacle to progress, stressing that reliable electricity is critical for industrialisation, job creation and innovation. It urged electricity companies to match the government's effort by enhancing service and encouraged citizens to keep supporting the reform agenda. The group added that the settlement signals seriousness to both local and international investors, could unlock new partnerships and accelerate modernisation of power infrastructure, reduce reliance on costly alternative energy sources and reposition Nigeria's energy sector to boost competitiveness within Africa.
President Tinubu's approval of the N3 trillion power‑sector debt settlement represents a clear pivot toward confronting the chronic electricity crisis rather than postponing it.
The sector has long been hamstrung by a mounting debt pile, operational lapses and dwindling investor trust, points highlighted by HAI's Ernest Omo. By wiping out the liability, the administration hopes to revive confidence among generators and distributors, lure new capital and finally deliver the consistent power supply that underpins industrialisation and job creation.
If the settlement translates into steadier electricity, small‑scale manufacturers, traders and households that currently depend on expensive generators could see lower operating costs and an improved quality of life. Urban and peri‑
