Settlement Of Legacy Debts Will Stabilise Power Sector – Adesina

Kola Adesina, Group Managing Director of Sahara Power Group, believes that the Federal Government’s settlement of legacy debts will be instrumental in driving new investments and stabilizing Nigeria’s power sector, paving the way for unhindered growth. He commended the government’s efforts to address liquidity challenges and highlighted the progress made in metering and service delivery, emphasizing the positive impact of collaboration between regulators and operators.

Adesina anticipates significant “distribution network reforms,” including infrastructure rehabilitation, the deployment of Advanced Metering Infrastructure (AMI), and robust Customer Relationship Management (CRM) systems to reduce losses and improve service. Sahara Power Group is committed to increasing generation capacity to 6,500MW-7,000MW and is launching a Data Centre to leverage data analytics and enhance sector efficiency. The company plans to invest in both gas and renewable sources to achieve additional generation capacity within the next three to five years, aiming for “sustainable, affordable, and reliable power.”

Regarding power loans, Adesina reported positive ongoing conversations with lenders, noting that the loans are being serviced diligently and that 73% of the original $600 million loan ($438 million) has been repaid despite sector liquidity issues and outstanding debts owed to Sahara Power and its gas suppliers, which totaled N1.514 trillion as of March 31st, 2025.

(Source：Independentng)