Electricity users and experts are raising doubts about President Bola Ahmed Tinubu’s recent N3.3 trillion plan to settle Nigeria’s long-standing power sector debt.
Presidential spokesperson Bayo Onanuga said on Sunday that Tinubu had approved the N3.3 trillion to pay off the debts owed to power generation companies (GenCos).
The announcement has sparked mixed reactions in the last two days, with questions about whether it will actually improve electricity supply in the country.
The Association of Power Generation Companies (APGC) expressed doubts about the approved N3.3 trillion. Other stakeholders also questioned how this payment would solve Nigeria’s electricity problems.
Joy Ogaji, CEO of APGC, criticized the method used by the presidency to arrive at the N3.3 trillion figure, saying GenCos were not properly consulted.
Arise Television anchor Oseni Rufai called the N3.3 trillion announcement “propaganda” on X, comparing it to a similar statement made by the power minister, Adebayo Adelabu, in March 2024.
However, Bayo Onanuga disagreed with Rufai’s assessment in a post on X.
The confusion around the N3.3 trillion comes after the government announced a N501 billion power sector debt resettlement bond.
Meanwhile, many Nigerians continue to suffer from irregular electricity supply, with only 3,345 megawatts available to distribution companies as of April 3, 2026. Easter celebrations in some parts of the country were affected by power outages.
Olubiyo noted that discrepancies and conflicting claims about the debt figures show flaws in the data used to calculate the N3.3 trillion.
He said the processes for data collection and generation lack scientifically verified standards, making the debt numbers vulnerable to manipulation and corruption.
Olubiyo warned that without credible data and structural reforms, paying the debt alone will not significantly improve the power sector.
He said: “Even though the payment may sound good, it will not solve the many problems in the power sector. Discrepancies and conflicting claims show that the debt data is not based on verified scientific methods, leaving it open to manipulation and corruption.”
Ewetumo A. A., a retired staff member of the old Power Holding Company of Nigeria (PHCN), also criticized the government’s plan. He said the administration had not shown real action since the plan was announced.
Ewetumo accused Tinubu’s government of “romanticizing” the payment plan without implementation and not seriously addressing Nigeria’s growing electricity sector debts.
He claimed the total debt in the power sector is much higher than the N3.3 trillion, estimating it at around N12 trillion, with GenCos owed about N6 trillion.
Ewetumo also raised transparency concerns, noting that despite repeated announcements since 2024, there is still no clear plan or list showing how the N3.3 trillion will be distributed.
He added: “Since 2024, the federal government has kept talking about paying N3.3 trillion without publishing a payment list.”
