The Federal Government has authorized the release of ₦185 billion to clear accumulated debts owed to domestic natural gas suppliers. These longstanding arrears are for gas already supplied to power generation companies (GenCos) and have been a major constraint on the energy sector.
The move, one of the most substantial energy sector interventions in recent years, aims to resolve a critical bottleneck. According to a statement from Louis Ibah, spokesperson for the Minister of State for Petroleum Resources (Gas), the payment directive came from President Bola Tinubu to eliminate arrears that have stifled investment and caused disruptions to gas supplies.
The approval was finalized following the endorsement of the National Economic Council, which is chaired by Vice President Kashim Shettima.
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