ABUJA, Nigeria (VOICE OF NAIJA)-The Managing Director of the Niger Delta Power Holding Company, Jennifer Adighije, has praised President Bola Tinubu for his administration’s dedication to revitalising Nigeria’s power sector, following his recent approval of a “N4tn bond” to settle legacy debts owed to power generation companies.
Recall that in July 2025, President Tinubu met with the chief executives of all power generation companies, during which he emphasised the importance of patience from “GenCos” and financial institutions.
The President also revealed that government agencies were engaging audit and legal firms to verify the “N4tn debt claims.”
READ MORE:Tinubu Orders Settlement Of GenCos, Gas Debts
The Minister of Power, Adebayo Adelabu, announced on Monday that the president had approved the bond to offset the debts.
Speaking at this year’s “NAEC Conference” in Lagos, Adighije hailed the president’s approval as a landmark move that would significantly restore the financial stability of the sector.
“With the funds available, we at NDPHC, given our unique mandate as the government’s intervention entity in the power sector, plan to deploy a significant portion of these recovered funds toward converting our power plants from open-cycle to combined-cycle operations,” she said.
“This will not only enhance efficiency but also diversify our generation mix, aligning with Nigeria’s energy transition plan,” she added.
Adighije further stated that the power sector is currently undergoing a major shift, advancing toward “bilateral trading” and the implementation of a “cost-reflective tariff regime.”
“What this means for us is that we are beginning to see increased liquidity within the sector, which in turn is making it more bankable and attractive for investment.
“For us in the power generation space, we understand that cash flow drives efficiency and sustainability. Improved liquidity ensures that generation companies are better positioned to reinvest in the power sector,” Adighije said.
She reiterated NDPHC’s commitment to supporting ongoing reforms and urged continued collaboration among all stakeholders to guarantee energy security and drive economic growth.
The association also honoured NDPHC with the “Power Company of the Year Award.”