Tinubu says N4 trillion bond will fix power sector

President Tinubu just announced that he has authorised the Presidential Power Sector Task Force to raise N4 trillion through a bond programme to clear verified legacy debts in the power sector. He made this known during his Democracy Day address on Friday.

Tinubu said the sector was drowning in debt when they came in 2023, with generation shortfalls, unreliable gas supply, and fragile transmission infrastructure that couldn't even evacuate available power. He also mentioned that distribution companies were burdened by massive losses and a metering deficit of over four million.

The question now is whether this bond will actually translate to stable electricity or just another round of borrowing that ends up in private pockets. We have heard so many promises about power sector reforms over the years.