Nigeria’s federal government, under President Bola Tinubu, has moved to settle N185 billion in legacy debts owed to gas producers. This critical step, endorsed by the National Economic Council led by Vice-President Kashim Shettima, aims to revitalize the gas industry and stabilize power generation, marking a significant intervention in the energy sector.
Minister Ekperikpe Ekpo and Ed Ubong of the Decade of Gas Secretariat stated that clearing these debts will restore investor confidence, boost exploration, and increase gas supply. This is expected to alleviate electricity shortages and foster economic growth, aligning with the “Decade of Gas initiative” to unlock substantial gas supply by 2030.