Well-done: HAI Applauds President Tinubu on N3trn Power Sector Debt Settlement

The Hope Alive Initiatives, HAI, a pro good governance civil society organization, has applauded President Bola Ahmed Tinubu for approving about N3 trillion for the payment of debt owed electricity companies.

The group gave the commendation in a statement made available to newsmen in Abuja on Friday by its Director of Press and Communications, Ernest Omoarelojie.

Describing the initiative as a bold step towards reviving the country's power sector, the group noted that the move demonstrates a strong leadership presence and signals the administration's commitment to stabilizing the electricity industry and driving economic growth.

According to the group, Nigeria’s power sector has struggled for decades under the weight of mounting debts, operational inefficiencies, and low investor confidence-factors it noted, limited the sector's ability to deliver reliable electricity to homes and businesses.

It noted that clearing the debt burden would restore confidence among electricity generation and distribution companies, attract fresh investments and improve service delivery nationwide.