Blackout: Nigerian government liquidates $120 million of $1.3 billion gas debt
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The Nigerian government has announced that it has resolved N120 million of the $1.3 billion gas debt that has left Nigeria exposed to unresolved electricity supply issues.
The Executive Director of the Gas Decade, Mr. Ed Ubon, disclosed this on Thursday at the ongoing 7th Nigeria International Energy Summit in Abuja.
“Depending on how you add up the numbers, as of last year it (gas debt) was about $1.3 billion. We are pleased to have paid more than $20 million,” Ubon said.
Recall that electricity consumers in Nigeria have been suffering from power outages since January this year.
Power Minister Adebayo Adelabu has blamed gas constraints for Nigeria's declining power supply.
Despite establishing a committee to address this challenge, the country's electricity supply shortages persisted.
The recent vandalism of the Nigerian Power Transmission Company Tower 70 along the 33kV Gwagwalada-Katampe line has further exacerbated the country’s power problems.
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Source: dailypost.ng