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Blackout: Nigerian Govt Clears $120m Of $1.3bn Gas Debt

Posted by Samuel on Fri 01st Mar, 2024 - tori.ng

The Decade of Gas Secretariat Director, Ed Ubong, disclosed this on Thursday at the ongoing 7th Nigeria International Energy Summit in Abuja.

Gas debt

The Nigerian Government has reported settling N120 million of the $1.3 billion gas debt, a longstanding issue contributing to the nation's unresolved electricity supply challenge.

The Decade of Gas Secretariat Director, Ed Ubong, disclosed this on Thursday at the ongoing 7th Nigeria International Energy Summit in Abuja.

“As of last year, that (gas debts) was about $1.3 billion, depending on how you add up the numbers. But I am pleased that the government has paid over $120 million between October and the end of January to offset some of that money,” Ubong stated.

Recall that electricity consumers in Nigeria have continued to suffer electricity outages since January this year.

The Minister of Power, Adebayo Adelabu, had blamed gas constraints for the drop in power supply in Nigeria.

Despite setting up a committee to tackle the challenge, the country’s power supply shortage persisted.

The recent vandalization of the Transmission Company of Nigeria’s Tower 70 along the 33kV Gwagwalada-Katampe line has further worsened the electricity challenge in the country.



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