NDPHC Commends Tinubu Over N4trn Bond Approval for GenCos’ Debt Settlement

The Managing Director of the Niger Delta Power Holding Company (NDPHC) Jennifer Adighije, has commended President Bola Tinubu for his administration’s commitment to revamping Nigeria’s power sector, following his recent approval of a N4tn bond to clear the legacy debts owed to power generation companies.

Recall that in July 2025, President Tinubu met with chief executives of all power generation companies, where he emphasised the need for patience from GenCos and financial institutions.

The President had also disclosed that government agencies were engaging audit and legal firms to scrutinise the N4tn debt claims.

The Minister of Power, Adebayo Adelabu, said on Monday the president had approved a bond to defray the debts.

Speaking at this year’s NAEC Conference in Lagos, Adighije described the president’s approval as a landmark decision that would go a long way in restoring the financial health 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 noted that the power sector is currently undergoing a major transition, moving towards 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 reaffirmed NDPHC’s commitment to supporting ongoing reforms in the sector and called for sustained collaboration among all stakeholders to ensure energy security and economic growth.

The association conferred on NDPHC the Power Company of the Year Award.