President Bola Tinubu has approved a ₦3.3 trillion payment plan aimed at settling long-standing debts in Nigeria’s power sector, in a move expected to improve electricity supply and restore investor confidence.

The development was disclosed in a statement issued on Sunday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga.

According to the statement, the approval followed a final review of legacy debts accumulated under the Presidential Power Sector Financial Reforms Programme over 10 years, spanning February 2015 to March 2025.

“Following verification, ₦3.3 trillion has been agreed as a full and final settlement, ensuring a fair and transparent resolution,” the statement partly read.

The government noted that implementation of the repayment plan has already commenced, with 15 power generation companies signing settlement agreements valued at ₦2.3 trillion.

It added that the Federal Government had so far raised ₦501 billion to fund the initiative, out of which ₦223 billion had already been disbursed, while further payments are ongoing.

‘Restoring Confidence’

“This programme is not just about settling legacy debts. It is about restoring confidence across the power sector, ensuring gas suppliers are paid, power plants can keep running, and the system begins to work more reliably,” she said.

She added that the plan formed part of the sector reforms, including improved metering and the introduction of service-based tariffs.

“It is part of a broader set of reforms already underway, including better metering and service-based tariffs that link what you pay to the quality of electricity you receive.

“The government is also prioritising power supply to businesses, industries, and small enterprises because reliable electricity is critical to creating jobs, supporting livelihoods, and growing the economy.

“The goal is simple: more reliable power for homes, stronger support for businesses, and a system that works better for all Nigerians,” she added.

The presidency stated that the settlement of the debts was expected to enhance liquidity across the power value chain, leading to more stable electricity generation and improved service delivery.

President Tinubu also commended stakeholders for their roles in resolving the long-standing issues and confirmed that the next phase of the programme, known as Series II, will commence within the current quarter.

Nigeria’s fragile power supply has been marked by frequent grid collapses, low generation levels, and persistent outages affecting homes and businesses.

A 2024 report by Africa Trade Barometer disclosed that Nigeria loses an estimated $26 billion yearly to power failures.

It said businesses spend about $22 billion annually on off-grid fuel to offset the impact of power shortages. This further pushes operational costs.

“Economic losses arising from Nigeria’s electricity shortages are estimated to be USD 26 billion annually, without accounting for spending on fuel for off-grid generators, which is estimated to be a further USD 22 billion,” the report by Standard Bank said.

“In Nigeria, surveyed businesses must contend with a national grid that frequently collapses as it fails to meet a daily peak demand which is nearly four times its generation capacity,” it added.

The Nigeria-Britain Association (N-BA), in partnership with the LiveWell Initiative (LWI), successfully hosted the 2026 Health Fair on Saturday, March 28, 2026, at the British Council, Ikoyi, Lagos, reinforcing their shared commitment to advancing preventive healthcare, wellness, and community health awareness.

Themed “Attaining Boisterous Health and Wellbeing amidst a Fast World,” the health fair was convened by the LiveWell Initiative LWI using a team of dedicated healthcare professionals, wellness advocates, and participants of diverse health backgrounds including emotional health physicians, dentists, pharmacists, nurses, public health practitioners for a day dedicated to integrated health services, education, and engagement.

Mr  Sola  Oyetayo President    N-BA having his BP checked

The programme opened with an insightful health talk delivered by Dr Bisi Bright, CEO of LiveWell Initiative LWI, and Council member, N-BA, who emphasized the importance of adopting proactive health behaviours in response to the increasing pressures of modern living.

Fruits and Salads  at the Nutrion Stand

Dr Bright further emphasized that “ individuals must take responsibility for their wellbeing by making informed choices, embracing early diagnosis, practicing basic hygiene, managing emotions, and staying consistently hydrated.”

Her session explored critical areas such as lifestyle management, stress, nutrition, resilience, and the prevention of non-communicable diseases, while advocating a more holistic approach to healthcare.

Speaking at the event, Sola Oyetayo, President of the Nigeria-Britain Association, described the health fair as part of the NBA’s broader sustainability agenda focused on promoting healthier communities and enhancing quality of life for N-BA members and Nigerians, but also to members of the Commonwealth community in Nigeria, He emphatically added that “Health is Wealth.”

Similarly, Funmilola Orokale, Council Member of the N-BA, stated that “the initiative reflects our commitment to ensuring greater health awareness, early detection of underlying conditions through accessible and respectful screening processes.”

With a team of over 50 healthcare professionals all from the LiveWell Initiative LWI, the health fair provided attendees with comprehensive and accessible medical services in a well-coordinated environment.

Participants benefited from a wide spectrum of free health screenings and consultations, ranging from cardiovascular and metabolic checks such as blood pressure and blood sugar testing, to infectious disease screenings including hepatitis, HIV, and malaria.

Specialized services such as prostate screening, breast examinations, eye assessments, dental and dermatological checks were also made available, alongside nutrition counselling, mental wellness support, and neurological assessments.

The LWI Team

In addition, a fully equipped pharmacy stand ensured access to free medications and professional guidance, while participants who require visual support received recommended eyeglasses at no cost.

There were free condoms available only for adults, with Counselling on responsible sexual behavior.

Beyond clinical services, the event delivered a holistic wellness experience featuring structured fitness sessions, recreational activities, and healthy nutrition offerings including fruit trees and various salads, smoothies and juices all aimed at promoting sustainable lifestyle changes. The engaging and impactful atmosphere enabled participants to not only assess their health status but also take practical steps toward improved wellbeing. The event recorded strong participation, with over 100 registered attendees alongside additional walk-in participants, many of whom expressed deep appreciation for the initiative, particularly the convenience of accessing multiple healthcare services in one location and gaining greater awareness to make informed health decisions.

About the Nigerian Britain Association (NBA)

The Nigeria-Britain Association is committed to fostering socio-cultural, educational, and developmental ties between Nigeria and the United Kingdom, while promoting initiatives that enhance the wellbeing of its members and the wider community.

About LiveWell Initiative (LWI)

LiveWell Initiative LWI is a health-focused nonprofit organization dedicated to promoting preventive healthcare, wellness education, and access to quality health services through community-driven programmes and strategic partnerships.

President Bola Ahmed Tinubu will tomorrow embark on an official visit to Ogun State, as the Gateway State prepares to witness the commissioning and inspection of a sweeping array of landmark projects—an indication of its bold stride toward infrastructural transformation, economic expansion, and improved service delivery.

According to a statement issued by the Special Adviser on Information and Strategy, Hon. Kayode Akinmade, the President’s itinerary reflects a comprehensive showcase of strategic investments cutting across critical sectors.

At the forefront of the visit is the commissioning of the Gateway International Airport, Iperu—an ambitious project designed to position Ogun State as a major aviation and logistics hub in Nigeria. Within the airport complex, President Tinubu will also commission two newly acquired aircraft under Gateway Air, marking the official takeoff of the state’s aviation initiative in partnership with ValueJet.

Further underscoring the airport’s economic potential, the President will witness a cargo operations showcase facilitated by SAHCOL, signaling readiness for full-scale logistics and freight activities. In addition, a number of strategic assets will be commissioned at the airport, including 1,000 electric bikes under the state’s EV mobility initiative, 80 security vehicles to strengthen safety architecture, and a fleet of agricultural tractors aimed at boosting food production and supporting farmers.

Beyond the airport, the President will commission the Ilishan–Iperu Airport Road, a vital link connecting the new aviation hub to surrounding communities and enhancing accessibility. He is also scheduled to inspect the Nigeria Customs Service Village and commission the Forward Operating Base (FOB) building, reinforcing border security and trade facilitation.

The visit will further feature the inspection and commissioning of the Gateway Aviation Village, a complementary development designed to support the state’s growing aviation ecosystem.

In a symbolic and strategic move, President Tinubu will commission the reconstructed “Old Ibadan Road” (Sapade–Ilishan Road), which will be officially named the Bola Ahmed Tinubu Expressway—an arterial route expected to significantly boost connectivity and commerce within the region.

Rounding off the visit is the inspection of the Sagamu–Benin Concrete Road, a major federal infrastructure project aimed at improving transportation efficiency along one of Nigeria’s busiest corridors.

Collectively, these projects reflect the vision of the Ogun State Government under Dapo Abiodun to build a modern, economically vibrant, and well-connected state. The President’s visit not only marks the unveiling of these transformative initiatives but also reinforces the synergy between federal and state governments in driving sustainable development.