Monday, July 20, 2026

Nationwide Blackout: Tinubu approves N4 trillion bond to settle electricity debt

“Electricity is a democratic dividend we owe every Nigerian. We intend to deliver it,” Mr Tinubu said.

• June 12, 2026
LIT LANTERN IN DARKNESS
LANTERN IN DARKNESS( credit: unsplash)

President Bola Tinubu claimed on Friday that his administration has made significant efforts to address Nigeria’s electricity challenges despite inheriting a power sector plagued by longstanding problems from the previous administration of the late President Muhammadu Buhari.

In his Democracy Day nationwide protest on Friday, Mr Tinubu maintained that electricity is a democratic dividend that every Nigerian must experience, while highlighting the steps his administration has taken to ensure improvements. 

Mr Tinubu noted that he signed the Electricity Act into law, allowing states to generate, transmit, and distribute power, and he has also approved N4 trillion to settle longstanding electricity debts. 

“To address the problems besetting the sector, I signed the Electricity Act, which grants states authority to generate, transmit, and distribute power. 

“The Presidential Power Sector Task Force is working hard to reduce the metering deficit. It has also been authorised to raise N4 trillion bond to settle verified legacy debts,” Mr Tinubu stated. 

Additionally, the president mentioned that, through collaboration with the World Bank and the African Development Bank, off-grid and mini-grid power infrastructure has been made available to Nigerians. 

“The Rural Electrification Agency, supported by the World Bank and the African Development Bank, has deployed off-grid and mini-grid power to underserved communities, universities, markets, and hospitals. 

“Electricity is a democratic dividend we owe every Nigerian. We intend to deliver it,” Mr Tinubu said.

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

farmers

Agriculture

FG tasks ECOWAS on leveraging financing strategies for agroecology

The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Katsina State

Politics

Katsina youths pledge to deliver over 2 million votes to Atiku

“Katsina State is Atiku’s political base because it is his second home.”

Central Securities Clearing System (CSCS) Plc

Economy

CSCS declares N1 interim dividend after half-year earnings

The company noted that the interim dividend represented 56 per cent of the total dividend of N1.78 per share paid for the 2025 financial year.

kids inside classroom

Health

Mental health key to attaining excellence in children, says expert

He said children perform better academically and socially when the learning environment supports their emotional well-being.

Ifeanyi Okowa And Ned Nwoko

States

Court dismisses Ned Nwoko’s suit challenging Okowa’s candidacy for Delta North senatorial district

The Federal High Court, Abuja, rejected Mr Nwoko’s suit seeking to void Mr Okowa’s emergence as the APC candidate for the Delta North senatorial district.

Police officers

Heading 1

Reps begin review of state police bill

“The House and the Senate are working in tandem with each other to make sure that the significant amendments are achieved,” he said.

Tinubu Stakeholders Forum (TSF)

Economy

Nigeria’s $40 billion net foreign reserves validate Tinubu’s economic reforms: TSF

“The increase from about $3 billion to more than $40 billion within three years, therefore, represents a substantial strengthening of Nigeria’s financial buffers,” the group said.

Andy Burnham

Heading 4

Andy Burnham takes over as UK’s prime minister, vows to end homelessness

“On my first day as Prime Minister, I’m announcing this government’s commitment to finally end long-term rough sleeping across the UK at the earliest opportunity,” he said.